Crest Accountants

Low income earnersMonday, July 15, 2013

Low income earners may need to lodge an income tax return

 

 

 

If your taxable income is under the tax-free threshold, there are reasons why you may still need to lodge an income tax return. The most common reasons you may need to lodge are:

  • you are entitled to the private health insurance rebate
  • had pay as you go (PAYG) withheld from payments received during the year
  • had a reportable fringe benefits amount on your PAYG payment summary
  • had reportable employer superannuation contributions on your PAYG payment summary
  • made a loss or can claim a loss made in a previous year
  • were an Australian resident for tax purposes and had exempt foreign employment income and $1 or more of other income.

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