On 1 January each year, the Department of Human Services (DHS) Protected Earnings Amount (PEA) is adjusted to allow for increases in the cost of living. The PEA is a set minimum amount that must be...
Statement of formula rates and thresholds
Seniors and pensioners tax offset (SAPTO) lodgment thresholds 2018-19.
There are no changes required for 2018-19 – section 3 of the Income Tax Rates Act 1986 and schedule 7 of the Income Tax...
Current from: 26 Aug 2019
These Determinations set out the amounts that the Commissioner considers are reasonable (reasonable amounts) for the substantiation exception in Subdivision 900-B of the Income Tax Assessment Act...
Current from: 14 Jun 2019
Medicare levy surcharge (MLS) amounts and thresholds to be updated as per the tables in the ‘Resource Attachments’ file.
Find out more:
Income thresholds and rates for the Medicare...
Current from: 14 Jun 2019
The Federal Budget did not result in any changes to tax rates or income thresholds for 2019-20 income year. Changes announced to the low and middle income tax offset were only in respect of the...
Current from: 13 Jun 2019
The repayment rates and income thresholds for HELP and other study and training support loans for the 2019-20 financial year are available under ‘Resource Attachments’.
Changes arising...
Current from: 31 May 2019
The attached spreadsheet provides 2019-20 indexation of rebates as per section 159HA of the Income Tax Assessment Act 1936 and Subdivision 960-M of the Income Tax Assessment Act 1997.
There are no...
Current from: 17 May 2019
The following links are to the Tax Determinations in relation to the Fringe benefits tax (FBT) rates from 1 April 2019.
Current from: 3 May 2019
The cents per kilometre deduction rate for motor vehicle expenses is 68 cents per kilometre, for the income year commencing 1 July 2018.
This rate applies to all eligible taxpayers who elect to use...
Current from: 19 Jul 2018
The Item A3 calculator allows users to calculate the correct amounts for the A3 labels on the individual tax return. This will ensure they receive the correct amount of government super co-...
Current from: 22 Feb 2017