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Newstart tax

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I'm new

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Replies 1

Hello,

 

Is Newstart taxable?

I.E do you have to declare it as income?

1 ACCEPTED SOLUTION

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Most helpful response

ATO Certified Response

Taxicorn

Replies 0

Yes, it is taxable income and you do need to declare it.

 

However, if it is your only source of income and you haven't paid any tax with it and your overall income is below the threshold of $18,200 then you may not need to lodge a tax return, simply a Non-Lodgement Advice.

 

 

See here

 

1 REPLY 1
Highlighted

Most helpful response

ATO Certified Response

Taxicorn

Replies 0

Yes, it is taxable income and you do need to declare it.

 

However, if it is your only source of income and you haven't paid any tax with it and your overall income is below the threshold of $18,200 then you may not need to lodge a tax return, simply a Non-Lodgement Advice.

 

 

See here