E-Lodge’s tax calculator can estimate your refund before the tax application opens on June 15th
E-Lodge’s tax calculator has been updated for the 2012-2013 financial year. It now allows you to estimate your tax refund or the tax you owe for the 2013 financial year.
The tax calculator takes only a few minutes to complete and contains three basic steps:
Income and Personal Information – such as gross taxable income, deductions from income, total tax withheld, etc.
Income Test Items – such as reportable fringe benefits, employer superannuation contributions, tax-free government pensions, etc.
Other Details – such as marital status, number of dependent children, number of dependent students, etc.
All of this information makes E-Lodge’s tax calculator the most accurate one out there.
Many other tax calculators only ask for your income, and then spit out a uniform amount of how much tax you’ll owe based on the rates. These calculators don’t take into account the complexities of the tax code and give you no indication of whether you can expect to receive a refund or pay tax, or how much either will be.
Even though the E-Lodge tax calculator gives you the most accurate estimate of your tax situation, you should still keep in mind that it is an estimate. The calculator is not aware of every detail, and may not be able to include all the offsets and deductions you can take advantage of to lower your tax liability.
The only way to have a completely accurate idea of how much you will owe or get back is to actually prepare your tax return. Thankfully, E-Lodge makes this easy.
You can start preparing your return for free – you only have to pay before you lodge. So if you want the best estimate of your tax refund – or you want to see if E-Lodge can nab you a larger refund than the other guys – you can completely prepare your return and see how much you’ll get back without paying anything. Then, if you’re happy with the number, you can proceed with lodgment.
Photo via Alan Cleaver on Flickr.