2018 Federal Budget Changes – Individuals

Personal Tax Cuts in a 3 Step Plan to be Implemented Over 7 years Step 1: Target Relief for Low and Middle Income Earners The government will introduce the Low and Middle Income Tax Offset (LAMITO) which is a non-refundable tax offset of up to $530 per year made...

Tax Offset for Spouse Contributions

Tax offset for spouse contributions is now easier to access. If you contribute to your spouse’s superannuation fund, you are able to claim a maximum tax offset of $540. From 1 July 2017, the income threshold for the spouse has increased from $10,800 to $37,000 making...