Announcements
We’re in read-only mode while we do some scheduled maintenance to bring you a bigger, better and brighter online community.
You can still search the site to find answers or take a look at our current top 10 questions.

ATO Community

$1080 Tax cut

This post is archived and may not be up-to-date.

I'm new

Views 1185

Replies 2

My taxable income has come in at $50500. I have tax deductions of approx $1000 but this will bring me below the $50k mark for taxable income. In the paper it said $40k would only get $480 and $50k get the full$1080. Should I only deduct to $50k and get the extra $600 or would a taxable income of $49 500 still get me most of the $1080. Thanks Dean.
1 ACCEPTED SOLUTION

Accepted Solutions

Most helpful response

Devotee

Replies 0

2 REPLIES 2

I'm new

Replies 1

I just found the calculator in another post and see to its a gradual decrease from approx $50 through to $40k and below.

Most helpful response

Devotee

Replies 0