I'm retired, do i have to lodge a tax return if my only income is interest on term deposit.

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 · Accepted Answer

MelATO · Answer

This is a self-assessed question. As we don't know all your circumstances, we can't give you a definite answer. You may be entitled to some tax offsets (https://www.ato.gov.au/individuals-and-families/income-deductions-offsets-and-records/tax-offsets). The best way to work out if you need to lodge a tax return is to use our handy tool: Do I need to lodge (https://www.ato.gov.au/calculators-and-tools/tax-return-do-i-need-to-lodge). By answering the questions in this tool, it will tell you if should lodge a return or not.

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