Gen Z reveals how she did her tax return this year, leaving older Aussies gobsmacked
In a revelation that would blow the mind of any Baby Boomer, Melbourne woman Paije recently divulged that she does her taxes each year using nothing but her smart phone.
'I just saw a video on my for you page where they were talking about that thing where some purchases you can do on your phone but big purchases have to be on your laptop,' the 28-year-old explained.
'I would like everyone to know that I did my taxes on my phone. I do everything on there.'
The laptop Vs phone debate has gained traction in recent years.
For Gen Zers who grew up as digital natives, they wouldn't think twice about making big purchases or completing in-depth tasks on their phone.
For Millennials and other generations, things they consider 'major' tasks, such as purchasing a plane ticket, are reserved for the laptop, with the idea of being left with nothing but their mobile enough to send them into a panic.
So, when Paije made her tax return confession, there were plenty of older Aussies who couldn't comprehend how she could complete such a significant task without whipping out her laptop.
'The way I gasped. Not on your phone,' one person said, with another joking, 'this feels illegal'.
'I didn't think anything at tax time could be worse than people saying getting a return just means you paid too much during the year, then I saw this,' another said.
One person branded it 'criminal', adding that flights, tax and online furniture shopping are all laptop tasks.
Another added: 'No way, that's definitely a desktop job.'
However, there were plenty of people who saw no issue with it, with others claiming it is easier to do your taxes on your phone, particularly if you use the ATO app.
'I haven't opened my laptop since high school in 2019, I use my phone for everything,' one person said.
Speaking to news.com.au, Paije said she wanted to tap into the running joke that older generations think some activities should only be done on laptops.
'I suppose I fall into that more Type B personality type and my attitude is that a phone is just a mini computer now,' the 28-year-old said.
She also noted that the ATO's myDeductions app has become increasingly user friendly, making it really easy to do your tax return with nothing but your phone.
In another video, Paije revealed she was getting a $921 refund after submitting her tax return, a figure she says is the 'worst' she has ever received.
While the young worker understands that getting a smaller or no return means you have paid the correct amount of tax throughout the year, she noted that 'it still hurts'.
In previous years, after submitting the same kind of deductions she did this year, her return would be in the $1500 to $2000 range.
She also touched on her increasing HECS-HELP debt, which is currently sitting at almost $92,000.
On June 1, indexation of 3.2 per cent was applied to all student loan debts.
While there have been welcome changes to the way indexation occurs, with the lower of either the Consumer Price Index (CPI) or the Wage Price Index applied, there is still a lot of contention around the process.
While payments towards your HECS debt are taken out of your pay in real time, that money is not coming off your debt at the same rate.
Instead, the ATO holds these funds as a credit until you file your tax return on or after July 1.
But, because indexation occurs before this on June 1, your past contributions are actually applying to the higher indexed rate, despite coming out of your pay much earlier.
Because of this, many people with student loans feel like they will never see their debts reduce.
'The indexation from the last few years means that you're not really paying anything off because it just gets added again,' Paije said.
She has two bachelors degrees and is currently doing her Masters and says the idea of paying off the debt doesn't even cross her mind anymore.
'I don't see it ever happening and so the best thing to do it just ignore it. Since the payments come out of my pay each fortnight I never see the money anyway, so I am kind of just choosing peace and pretending it doesn't exists,' she said.
'It would be too much mental effort that I don't have to care about it.'
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