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Re: Low and Middle income tax offset

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What do i do if i believe that i am eligable for the new tax offset and havent recieved it with my return?? And im not the only one!
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MVF
Devotee

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Hi @AshleaDrainer 

 

Firstly check to see if you are eligible by using this tax offset calculator.

 

https://community.ato.gov.au/t5/TaxTime/Tax-relief-calculator-for-the-new-tax-cuts/td-p/19442

 

Secondly, you do not do anything because if your return has already been processed and its not there the ATO will amend your return and process the offset for you, when they get around to it.

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Devotee

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How do you know that (a) You are eligible and (b) not received it?

 

It reduces tax, you don't just get it given to you.

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MVF
Devotee

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Hi @AshleaDrainer 

 

Firstly check to see if you are eligible by using this tax offset calculator.

 

https://community.ato.gov.au/t5/TaxTime/Tax-relief-calculator-for-the-new-tax-cuts/td-p/19442

 

Secondly, you do not do anything because if your return has already been processed and its not there the ATO will amend your return and process the offset for you, when they get around to it.

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Hi @AshleaDrainer,

 

Welcome to our Community!

 

@MVF is correct - you can use the calculator to work out if you're eligible based on your income and it will be automatically calculated when you lodge your income tax return. If you're eligible and lodged your tax return in the first few weeks of July, it will be amended and any refund will be paid to your nominated bank account.

 

You can find further information about the low and middle income tax offset on our website.

 

Thanks, JodieH.

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