Читать книгу 101 Ways to Save Money on Your Tax - Legally! 2022-2023 - Adrian Raftery - Страница 54

In addition to LITO, the government reinstated the low and middle income tax offset (LMITO) in the 2021–22 federal budget for the 2021–22 year only. The 2022–23 federal budget proposed an increase of $420 to LMITO such that it will be an additional tax rebate of $675 for individuals who earn less than $37 000. The offset is increased by 7.5 cents for every dollar to $48 000 and stays at $1500 for taxable incomes up to $90 000. The offset is reduced by 3 cents for every dollar that your taxable income exceeds $90 000, before phasing out entirely at $126 000.