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WHAT ARE THE TAX OFFSETS OR REBATES FOR SENIOR AUSTRALIANS AND PENSIONERS?

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24
May

If you are aged 65 years or over, you may be qualified for the Senior Australians and Pensioners Tax Offset (SAPTO). The SAPTO can cut back the amount of tax you are required to pay. You will not need to lodge an official document to cut back your tax liabilities when your tax liabilities will be zero. Thus, you need to be eligible to meet with certain conditions to fulfil your tax offset that are listed below:

  • Need to reach the pension age;
  • Eligibility for Australian Government pension or allowance and income;
  • You will not be able to claim any tax offset or rebate if you were in jail for the whole of the financial year;
  • The measure of the tax offset is based on your individual rebate income if you have a spouse and you will be examined on your combined rebate income for the SAPTO eligibility.

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