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.
on 3 October 201701:48 PM - last edited on 13 March 201911:52 AM by PaulATO
Make life easier and use the myDeductions tool in our ATO app to track your expenses on the go. You’ll never miss out on a deduction because of a lost or faded receipt again! Get started today at https://ato.gov.au/mydeductionsor watch our video to find out more: