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You are entitled to a low income tax offset of $510.00.
You provided the following information
Income year:
2007-08
Your taxable income:
$36,000
Are you an Australian resident for tax purposes?
Yes
We calculated your low income tax offset in the following way
Step Action Result ($)
1 Maximum tax offset 750.00
2 Your taxable income 36,000.00
3 Threshold at which tax offset reduces 30,000.00
4 Take your result at step 3 away from your result at step 2 6,000.00
5 Divide your result at step 4 by 100 60.00
6 Multiply your result at step 5 by 4 240.00
7 Take your result at step 6 away from the maximum tax offset at step 1 510.00 |
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