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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.
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Re: If a spouse shares a bank account will a government co-contribution be paid and can tax offse...

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Former Community Support

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Hi @Shortofbreath,

 

Thanks for posting.

 

As long as you meet all the eligibility criteria, having a joint bank account with your spouse doesn’t prevent you from receiving a super co-contribution.

 

If you’re eligible for a super co-contribution, we’ll calculate the amount you’re entitled to based on the information your super fund reports to us and the information in your tax return.  We'll then pay your co-contribution directly to your super fund. In limited circumstances, you may be able to apply for your co-contribution to be paid to you directly.

 

@SebReiter has provided an answer about co-contributions and claiming tax offsets here.

 

Thanks, NicM.

1 REPLY 1

Most helpful response

ATO Certified Response

Former Community Support

Replies 0

Hi @Shortofbreath,

 

Thanks for posting.

 

As long as you meet all the eligibility criteria, having a joint bank account with your spouse doesn’t prevent you from receiving a super co-contribution.

 

If you’re eligible for a super co-contribution, we’ll calculate the amount you’re entitled to based on the information your super fund reports to us and the information in your tax return.  We'll then pay your co-contribution directly to your super fund. In limited circumstances, you may be able to apply for your co-contribution to be paid to you directly.

 

@SebReiter has provided an answer about co-contributions and claiming tax offsets here.

 

Thanks, NicM.