Correct. But also the low income tax offset is available for taxpayers whose taxable income is less than $60k. The basic tax offset is $1,500.00 and is allowable in full where the taxable income is $30k or less. The effect of the low income offset is that an individual taxpayer will not pay any tax until the taxable income exceeds $16k.
Correct. But also the low income tax offset is available for...
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