What Is Notice of Assessment? Understanding Your Tax Notice

When you lodge your annual tax return, one of the most important documents you’ll receive from the Australian Tax Office (ATO) is your Notice of Assessment. This document is essentially your official tax summary, showing the final result of your return—whether you’re entitled to a refund, owe additional tax, or have no further action required. It confirms how much income you earned, how much tax you paid, and whether you received any credits or offsets.

Understanding your Notice of Assessment is essential because it outlines your tax position for the financial year and can impact your financial planning, loan applications, or business decisions. It also provides key details like your taxable income, Medicare Levy, and any repayments such as HECS or HELP.

In this article, we’ll break down what the Notice of Assessment includes, why it matters, and what to do if something doesn’t seem right.

Key Information Found in Notice of Assessment

Your Notice of Assessment (NOA) from the Australian Tax Office (ATO) is a summary of your tax return outcome. It provides a clear breakdown of how your tax was assessed and what the final result is. Here’s what you’ll typically find:

• Taxable Income: The total income you earned during the financial year, minus any allowable deductions. This is the figure the ATO uses to calculate your tax payable.

• Tax Paid: The amount of tax that was already withheld or paid during the year—often through PAYG (Pay As You Go) withholding by your employer.

• Medicare Levy: Most taxpayers are required to pay a Medicare Levy, which is typically 2% of your taxable income. If applicable, this will be listed here.

• Tax Offsets or Credits: These reduce your overall tax liability. Common offsets include the Low and Middle Income Tax Offset (LMITO) or private health insurance rebate.

• Refund or Amount Payable: The final outcome of your tax return—either a refund if you've overpaid tax, or an amount payable if you owe the ATO more.

Understanding each of these sections helps ensure your tax return is accurate and complete.

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Why the Notice of Assessment Is Important

The Notice of Assessment serves as official tax confirmation from the Australian Tax Office (ATO), verifying the outcome of your tax return. It outlines the final amount of tax payable or refundable and confirms that your return has been processed.

This document is an essential piece of tax evidence that demonstrates your compliance with Australian tax laws. It may be required by lenders, financial institutions, or Centrelink when assessing your income or eligibility for loans, grants, or benefits.

Beyond its immediate financial use, your Notice of Assessment plays a critical role in recordkeeping. It provides a clear summary of your taxable income, deductions, and credits for the year, making it easier to track your financial history, compare previous returns, or respond to future queries from the ATO.

In essence, your Notice of Assessment is a formal and reliable financial record that supports both personal and professional financial obligations.

Who Can Ask for My NOA?

Your Notice of Assessment (NOA) may be requested by various organisations to verify your income and tax position. Banks and lenders often ask for your NOA when you apply for a loan or mortgage, as it helps confirm your ability to repay. Centrelink may request it to assess your eligibility for government benefits or payments. If you're applying for a rental property, some landlords or agents might also ask to see your NOA as proof of income.

In some cases, accountants or financial advisors may need your NOA to help you with future tax planning or financial decisions. Because it’s an official document from the ATO, your NOA is seen as a reliable way to show your earnings, tax obligations, and compliance history.

It’s important to keep your NOAs safe and accessible for situations where you may need to present them as official income verification.

What If There's a Mistake in NOA?

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If you notice a mistake on your Notice of Assessment (NOA), it’s essential to act quickly. Mistakes can happen, but the good news is that they can be corrected. First, review your tax return and the NOA to identify any discrepancies in income, deductions, or other figures.

If you find an error, you can request an amendment from the Australian Tax Office (ATO). This can be done through your myGov account or by directly contacting the ATO. Generally, you have up to two years from the date of your NOA to make changes.

However, tax matters can sometimes be complicated, especially when it involves larger discrepancies or complex situations. If you're unsure about how to proceed or need assistance, our team of tax professionals at HelloLedger is here to help. We’ll work with you to ensure your NOA is corrected accurately and efficiently, so you can avoid unnecessary issues down the line.

Conclusion: Australian NOA

Your Notice of Assessment (NoA) is an important part of managing your tax. It shows where you stand with the ATO and helps you stay on top of your tax duties. By understanding what’s in your NoA, keeping good records, and getting help when needed, you can stay in control of your finances.

At HelloLedger, we make taxes easier to understand. Whether you’re living overseas, running a business, or investing in Australia, our friendly tax experts are here to guide you. We’ll check your NoA for accuracy, explain what it means, and help you fix any problems.

You don’t have to handle it all on your own. Let us take care of the details so you can focus on your work, family, or goals.

Need help with your NoA? Book a free discovery call today.

Common Questions About the Notice of Assessment

How long does it take to receive a Notice of Assessment?

It usually takes around 2 weeks if you lodge your tax return online through myGov. If submitted through a tax agent, it might take 2–4 weeks. For paper lodgements, it can take up to 10 weeks.

Is a Notice of Assessment the same as a tax refund?

No, they are different. The NOA is a summary of your tax return, showing your taxable income and whether you owe tax or will receive a refund. A tax refund is the actual amount the ATO returns to you if you’ve overpaid.

Do I need to keep my Notice of Assessment?

Yes, it's important to keep your NOA for at least five years. It serves as official tax evidence for loan applications, government benefits, or future tax returns.

Can I request a copy if I lose it?

Yes, you can request a copy through your myGov account under your ATO profile or contact the ATO directly if you need a replacement.