How to claim the Low and Middle Income Tax Offset.
Some people have asked how to claim the Low or Middle Income Tax Offset on their Australian Tax Returns.
The ATO state: You are not required to do anything to claim the low and middle income tax offset. We will … Read the rest
How much is the Seniors and Pensioners Tax Offset (SAPTO).
If you’re a Senior Australian, you may be eligible for the seniors and pensioners tax offset (SAPTO).
The SAPTO can reduce the amount of tax you are liable to pay. In some cases, it may reduce your tax liability to … Read the rest
Australian Low and Middle Income Tax Offset (LMITO).
The Australian 2018 budget introduced the Low and Middle Income Tax Offset (LMITO) for the tax years 2018-19 through to 2021-22, to assist Low and Middle Income earners with a slightly lower income tax deduction. This is in addition to the Low … Read the rest
LITO: Low Income Tax Offset for Low Paid in Australia.
Australian taxpayers are able to benefit from the Low Income Tax Offset [LITO] benefit from the Australian Tax Office (ATO).
The Low Income Tax Offset [LITO] is an end of year rebate for lower income earners, and does not have … Read the rest
For the 2009-10 income year, you will be eligible to claim a dependent spouse offset if all of the following apply:
- Your adjusted taxable income was $150,000 or less
- Your spouse’s adjusted taxable income for the year was less than $9,254
- You and your spouse were a resident at some
… Read the rest
If you are over the pension age, you may be eligible for the Australian Tax Office (ATO) Senior Australians Tax Offset.
Depending on various eligibility factors, this benefit may be payable for those with an income up to about $46,000 for a single person.
Further details are available at: www.ato.gov.au… Read the rest