Tax Offsets

Tax offsets directly reduce the amount of tax payable on your taxable income. They can reduce your tax payable to zero, however, on their own they can’t get you a refund. If you are eligible for more than one tax offset, they are applied to your gross tax payable in a specific order.

There are a number of tax offsets available:

• Benefit recipients
• Taxpayers with dependants
• Health insurance
• Medical expenses (being phased out)
• Senior Australians and pensioners
• Superannuation
• Low-income earners
• Zone and overseas forces