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.
I am a New Zealand citizen living and working in Australia for the past 3.5 years. I do not hold a permanenet resident visa and only hold the special subclass category visa. I earn interest on money in my New Zealand bank account, do I have to declare this interest income in my Australian tax return?
I havent been doing so for the last 3 years (the basis being I thought I didnt have to as i didnt hold a permanent visa), but now im not so sure and a little worried that I was supposed to?