Australian Tax Rebates and Tax Offsets

Tax offsets – sometimes referred to as rebates – are not the same as tax deductions. Offsets directly reduce the amount of tax you must pay. Each dollar of tax offset reduces your tax payable by a dollar regardless of your taxable income.   Mature age workers, seniors and pensioners may be eligible for tax […]

Before you complete your tax return for 2015, there are some changes you should be aware of in case they affect you. Mature age worker tax offset You can no longer claim the Mature age worker tax offset (MAWTO) in your tax return. Previously, to be eligible for the offset you needed to be an […]