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Tax Offset


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#1 Rockwiz

Posted 12 July 2019 - 10:33 AM

Does anyone know if this tax offset which the government just passed and many workers are getting this financial year -  is also appliciable for the next financial year 2019/20? I thought I read after the budget it was but now can't find the information anywhere.

#2 Rockwiz

Posted 12 July 2019 - 10:48 AM

View PostFresh Start, on 12 July 2019 - 10:45 AM, said:

It wasn’t legislated as a one year rebate as far as I know, it’s ongoing.
Thanks Fresh Start. Good news.

#3 SplashingRainbows

Posted 12 July 2019 - 05:37 PM

It’s for four years

https://www.theguard...oney-will-i-get

#4 Ayr

Posted 12 July 2019 - 05:57 PM

Good calculator on that site posted above.

There seems to be alot of confusion over who is and isn't eligible from other forums I frequent. Given that it's a tax offset for those who have paid tax I have been puzzled by posts on other forums I frequent being upset they don't get a "cut" as they put it, yet don't work and don't pay tax. You can't get more tax back than you pay and if one didn't pay any I'd have thought that was clear. That calculator is a clear indication of who gets what.


#5 born.a.girl

Posted 12 July 2019 - 06:04 PM

View PostAyr, on 12 July 2019 - 05:57 PM, said:

Good calculator on that site posted above.

There seems to be alot of confusion over who is and isn't eligible from other forums I frequent. Given that it's a tax offset for those who have paid tax I have been puzzled by posts on other forums I frequent being upset they don't get a "cut" as they put it, yet don't work and don't pay tax. You can't get more tax back than you pay and if one didn't pay any I'd have thought that was clear. That calculator is a clear indication of who gets what.


If it's not clear, blame the politicians.

There's also significant confusion about the difference between tax measures and welfare measures in the community.

I've seen plenty of comments on EB that childcare should be a tax deduction.


Typical of the Libs that they've done a tax measure, but ignored the welfare area.

#6 steppingonlego

Posted 21 July 2019 - 11:06 AM

Can I ask if you are entitled to the offset does it land in your return when you calculate it or is it done separately.

#7 Ayr

Posted 21 July 2019 - 11:08 AM

It will be included with your return.

#8 Nobodyelse

Posted 21 July 2019 - 11:15 AM

View Poststeppingonlego, on 21 July 2019 - 11:06 AM, said:

Can I ask if you are entitled to the offset does it land in your return when you calculate it or is it done separately.

It is an offset. Not a rebate. So it is taken off your taxable income meaning you will pay less tax (and, in theory, get a higher return/lower debt) than before. It isn't a lump sum in your account.

#9 steppingonlego

Posted 21 July 2019 - 11:41 AM

Thank you

#10 lizzzard

Posted 21 July 2019 - 12:01 PM

View Postborn.a.girl, on 12 July 2019 - 06:04 PM, said:




If it's not clear, blame the politicians.

There's also significant confusion about the difference between tax measures and welfare measures in the community.

I've seen plenty of comments on EB that childcare should be a tax deduction.


Typical of the Libs that they've done a tax measure, but ignored the welfare area.
Yes a good example of how inequities in the system remain so entrenched and are difficult to overcome:
1. Measures are implemented in a way that doesn’t actually benefit those on lower incomes as much as they should
2. A general lack of understanding masks (1)
3. Those who are more likely to understand complexities in the system are less impacted by it and therefore don’t push for any change

The cynic in me thinks this is why public schools don’t teach financial literacy or public policy. Imagine how annoying it would be to govern a properly educated society who actually understood enough to challenge the decisions of the countries ‘leaders’.

* note I’m being slightly facetious here and not having a go at public education!!

#11 Ayr

Posted 21 July 2019 - 01:02 PM

View Postborn.a.girl, on 12 July 2019 - 06:04 PM, said:


If it's not clear, blame the politicians.


I don't think they exact figure of who gets what is clear because most articles just keep talking about the $1080, but the fact it's a tax offset sounds pretty clear that you have to actually pay tax to get any tax back.

#12 Lesley225

Posted 21 July 2019 - 01:31 PM

System will work it out as part of the assessment process.

#13 born.a.girl

Posted 22 July 2019 - 07:48 AM

View PostAyr, on 21 July 2019 - 01:02 PM, said:

I don't think they exact figure of who gets what is clear because most articles just keep talking about the $1080, but the fact it's a tax offset sounds pretty clear that you have to actually pay tax to get any tax back.


In the main thread on this, I linked to the articles in The Guardian and the ABC, which are absolutely clear.




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