Worried you’re missing part of your refund? Remember, the low and middle income tax offset isn’t a refund on its own – it’s used to offset (or reduce) the amount of tax you pay. The offset amount you may be entitled to is automatically applied and could range between $255-$1080, depending on things like your taxable income and how much tax you’ve paid.
Hi there , I’m in the exact same situation having started a new business in jan and after three strong months my work just stopped completely. I objected to the decision providing a statement , copies of invoices , remittance statements from clients and support letters from clients but still have been ruled with a big No . The case worker from the ATO said that the legislation does not cater for situations such as ours and that the info on the ATO is in some cases incorrect . I’ve contacted the CPA who are actively pushing the treasury for support for new businesses ..,you can message them via their Facebook page so let’s see what they come back with.. Good luck