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Hi @Sidozziee,
Deduction reduces your taxable income, please see - https://www.ato.gov.au/individuals/income-and-deductions/
Income tax is paid on money you receive, such as salary and wages, Centrelink payments, investment income from rent, interest and dividends, and profits from selling shares or property.
You can reduce the amount of tax you pay by claiming certain deductions that are directly related to earning your income, deductions are a non - refundable amount
The first $18,200 is tax free - please see, https://www.ato.gov.au/rates/individual-income-tax-rates/?=top_10_rates
Hi @Sidozziee,
Deduction reduces your taxable income, please see - https://www.ato.gov.au/individuals/income-and-deductions/
Income tax is paid on money you receive, such as salary and wages, Centrelink payments, investment income from rent, interest and dividends, and profits from selling shares or property.
You can reduce the amount of tax you pay by claiming certain deductions that are directly related to earning your income, deductions are a non - refundable amount
The first $18,200 is tax free - please see, https://www.ato.gov.au/rates/individual-income-tax-rates/?=top_10_rates
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