Low income earners may still need to lodge a Tax Return
Did you know that low income earners may still need to lodge a tax return. One common misunderstanding is that if your income is under the tax free threshold of $18,200 that you do not need to lodge a tax return.
In some cases you do.
They include if you:
had pay as you go (PAYG) withheld from payments you received during the year
had a reportable fringe benefits amount on your PAYG payment summary
had reportable employer superannuation contributions on your PAYG payment summary
made a loss or can claim a loss made in a previous year
were an Australian resident for tax purposes and had exempt foreign employment income and $1 or more of other income
are entitled to the private health insurance rebate but did not claim your correct entitlement as a premium reduction
were a liable or recipient parent under a child support assessment unless you received one or more Australian Government allowances, pensions or payments for the whole year and your income was less than $24,535
operated a business as a sole trader under an ABN
For more information please see the ATO's guide "do I need to lodge a tax return for 2018"
Our PAYG Tax Returns are only $99.
If you require a NIL lodgement return we can process this for $25 (no limit on how many years are involved)
For further information or to book an appointment please call us on 07 5502 6673