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 have been with my employer for ten years and now I will be getting a new job and need to fill out new tax form dec... I am confused as to what I answer to the question, of tax free threshold yes /No.... As this is a new employer do I answer yes? or because its in the same financial period and I have exceeded threshold 18500 do I answer no? I don't want to pay a hefty bill at the end.... someone help please?