Version
2020-21
Original Published Date
Status
Current
Tax Category
Payroll
Tax preparation
Resource Type
Statement of formula / rates and thresholds
Description
Seniors and pensioners tax offset (SAPTO) lodgment thresholds 2020–21.
The calculation for SAPTO no longer includes the Low income tax offset (LITO).
Instead, a defined term '159N rebate maximum amount' of $445 is used in Section 4 of the Income Tax Assessment (1936 Act) Regulations 2015. The calculations are in section 9.
The LITO which is $700, can now be found under section 61-110 and 61-115 of the Income Tax Assessment Act 1997.
See below for further information about the law.
Find out more:
Low and middle income tax offset
Income Tax Assessment (1936 Act) Regulation 2015
Income Tax Assessment Act 1997
Title | Version | Authored on |
---|---|---|
Seniors and pensioners tax offset | 2020-21 | 15 Apr 2021 |
Seniors and pensioners tax offset | 2019-20 | 16 Apr 2020 |
Seniors and pensioners tax offset | 2017-18 | 28 May 2018 |
Last modified date