The Importance of Repayment Income

There's a lot of discussions in the financial world about never pay the help that off, just let it happen by itself. Many get caught up when they complete their tax return as this part is often misunderstood. At the end of the financial year, the ATO will reconcile your repayment income. And if your employee has withheld too much help repayment, you'll get a refund. If you have not withheld enough, you'll getting a bill. The two big traps for ending up with an extra bill are from salary sacrifice contributions, either to super or to salary package arrangements.