Tax Claims Deductions and Offsets

  • Tax Offset
    A tax offset may also be referred to as a tax rebate. There’s an important difference between a tax offset and a tax deduction.
  • The Low Income Tax Offset
    Low Income Tax Offset calculation tables for 2011 and subsequent tax years. The LITO offset is a calculated reduction of tax payable, based on a low level of income.
  • Education Tax Rebate
    Education Tax Rebate has been replaced on an ongoing basis by the School Kids Bonus which is to commence in January 2013. As part of the phasing out arrangements, a lump sum payment for 2011-12 has been paid in June 2012.
  • Dependant Spouse Offset
    The Dependant Spouse Offset is being phased out. From 1 July 2011 the dependent spouse tax offset is restricted, and is only available for a spouse born before 1 July 1971 or unable to work due to invalidity or carer obligations. From 1 July 2012 the offset is further restricted to dependent a spouse born before 1 July 1952.
  • Senior Australians Tax Offset
    Senior Australians Tax Offset is a tax offset available to age and service pensioners, and self-funded retirees of age pension age
  • Mature Age Workers Tax Offset
    Mature Australian Workers Tax Offset (MAWTO) is set at a maximum $500 for working Australians over the age of 55 years at 30 June.
  • Private Health Insurance Tax Offset
    The private health insurance tax offset is a government contribution to health insurance premiums. It is means tested from 1 July 2012.
  • Medical Expenses Tax Offset
    Medical Expenses Tax Offset is available as 20% of net medical expenses over the threshold amount. This will be means tested from 1 July 2012.
  • School Kids Bonus
    The School Kids Bonus is replacing the Education Tax Refund (ETR) from 1 January 2013 and is being administered by the Department of Human Services. To commence receiving the School Kids Bonus the Department of Human Services needs to be aware that you have kids in school, and that you are eligible.
  • Home Office Expenses
    Home Office expense tax deductions are available if your home is a place of business, or if not that it is used for income earning activities. You claim actual expenses or use the Tax Office estimate.
  • Entrepreneurs Tax Offset
    The entrepreneurs’ tax offset (“ETO”) provides small businesses with an annual turnover of less than $75,000 with a maximum tax offset equal to 25 per cent of the income tax on their business income. The ETO ends on 30 June 2012.
  • Zone Tax Offset
    The zone tax offset is for residents of specific areas for more than 183 days, with overseas forces eligible in designated overseas locations. If eligible for both, you can claim the one with the higher value.
  • Delayed Income Tax Offset
    The delayed income (lump sum in arrears) tax offset is to compensate for the tax spike that occurs when a lump sum income amount received within the year is made up of amounts which have accrued in earlier years.
  • Tax Deductions
    Looking For Tax Deductions? There isn’t a guide for every occupation, but just about any of the guides can spark a tax deduction idea.
  • Depreciation of computers
    Tax claims for the depreciation of computers are available where the computer use is associated with, and to the extent that it is associated with, your income-earning activities.
  • Work Related Car Expenses
    A work-related car expense claim is a tax deduction in relation to a car which is used for business or income producing purposes.



This page was last modified on 10 August 2015