Here’s everything you need to know to claim it.website, if your taxable income is less than $126,000, you will get some of the low and middle income tax offset.The amount of the offset you are entitled to will depend on your individual circumstances, such as your income level and how much tax you have paid throughout the year – and if you earn above that cut-off, you won’t get a cent.
But it’s just that – an offset – so if you’re expecting it to come in the form of a lump sum, prepare to be disappointed.Source:istock Mr Chapman said he believed there would be an “even bigger spike” this year in Australians lodging theiras soon as possible in order to receive that offset, as household budgets have been stretched further than normal.
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