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.
Hi, I was granted compassionate release of my super for surgery. I understood at the time it there would be Tax implication but as I have a HELP debt, can you please confirm if this will be included in my income Tax and I will be required make a compulsory repayment in a higher threshold? If yes can you please advise a dept or area I can discuss this further?