Are you a low income earner?
An individual, who may be a low income earner, may not need to lodge a tax return where their income is below the tax free threshold of $18200.
However there are certain circumstances where you are required to lodge a return even if your income is below the threshold.
If any of the following apply to you, come and talk to us about lodging a tax return:
- Had PAYG Withheld from income payments you received
- Had a reportable fringe benefits amount shown on your PAYG Payment Summary
- Had Reportable Employer Super Contributions known as RESC on your PAYG Payment Summary
- Made a capital loss or income loss or are claiming a loss from a prior year
- For Australian residents for tax purposes you may have had exempt foreign employment income or other income
- You may not have correctly claimed your private health insurance rebate when applying for your premium reduction
- May have been liable or in receipt of child support
- You carried on a business
- You received an Australian Superannuation Lump Sum
- You may have made excess concessional contributions during the year
Please note this is not an exhaustive list
If you are in doubt as to whether you need to lodge a return, then you need to talk to us.
