Category: Business Accountants
The Government will introduce the Low and Middle Income Tax Offset, a non-refundable tax offset of up to $530 per annum to Australian resident low and middle income taxpayers.
The offset will be available for the 2019, 2020, 2021 and 2022 income years and will be received as a lump sum on assessment after an individual lodges their tax return.
With tax time coming up, it is always difficult to know what you can and cannot claim.
If you are in the construction Industry, you may be able to claim items such as sun care, meals and tools.
The ATO have provided a general guideline of items you can claim to make getting organised for tax time easier.