Earn $33k in 2019 and not pay tax?

Discussion in 'Accounting & Tax' started by money, 5th Aug, 2019.

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  1. money

    money Well-Known Member

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    I've read on another forum that for the 2019 tax year a normal taxpayer could earn up to $21,885 and not pay tax due to the $18,200 threshold, LITO of $445 and LMITO of $255. Then if someone is entitled to the SAPTO too then they could earn up to $33k/year and not have to pay tax. Is this correct? I've been searching for a calculator online that does include all of this but can't find one.
     
    money, 5th Aug, 2019
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  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Terry_w, 5th Aug, 2019
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  3. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    While it may be possible to earn that income and not pay tax it does not mean that a return may not be required. There is also the interaction of other agencies to consider eg Centrelink. To determine and claim the SAPTO you need to lodge a return and cant self-assess the value. This means a taxpayer seemingly aged 60+ eligible for the SAPTO who earns $18200 or more will still lodge a return to claim the low income tax offset, SAPTO and other eligible credits.
     
    Paul@PAS, 5th Aug, 2019
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