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23
May
  • Posted By : Administrative
  • Category: Income
  • Comments: 0

TEMPORARY BUDGET REPAIR LEVY

The Temporary Budget Repair Levy (TBRL) ensures that high income Australians are contributing to repairing Australia's finances as well as share the burden of reducing the country’s debt. Th...

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23
May
  • Posted By : Administrative
  • Category: Income
  • Comments: 0

WHAT IS LOW INCOME TAX OFFSET?

Low Income Tax Offset (LITO) refers to the amount which is subtracted from, an individual’s tax payable. An Individual can claim for tax offset, if he/she is a low-income earner; for instance, P...

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23
May
  • Posted By : Administrative
  • Category: General Tax Topic
  • Comments: 0

KEEPING YOUR TAX RECORDS

As an individual taxpayer, you are responsible for the amount you declared or claimed on your tax return as Australian tax system relies on taxpayers’ self-assessment system. Keeping your tax record...

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23
May
  • Posted By : Administrative
  • Category: Income
  • Comments: 0

INCOME AND DEDUCTIONS FROM INTEREST AND DIVIDEND INCOME

According to the ATO, if you earned interest, dividend or other investment income over the tax year, you might be able to claim a tax deduction for any expenses you incurred while earning that income....

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23
May
  • Posted By : Administrative
  • Category: General Tax Topic
  • Comments: 0

WHAT IS YOUR NOTICE OF ASSESSMENT?

Once ATO processes your tax return, you will be issued a Notice of Assessment which will show your entitlement to a refund or if you have a tax debt to pay. The notice of assessment is an itemised acc...

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