Tax Returns

Information is provided about all the information regarding tax return but first of all , we need to consider the following things:

Reason 1

You are an Australian resident in the year 2018-2019 and you:

  • had payed tax under (PAYG) withholding or system of instalments, or
  • the payments which you got, tax on those receiving payments
Bookkeeping

Reason 2

IF You were eligible tax offset of seniors and pensioners, and your rebate income was more than the following:

  • $32,279 if you were single, widowed or got separated from your spouse at any time during the year
  • $31,279 if you had a spouse but one of you lived in a nursing home or you had to live apart due to illness (see the definition of Had to live apart due to illness or some other reason, or
  • $28,974 if you lived with your partner for the full year.

Reason 3

If your taxable income was more than $20,542 and along with that you were not eligible for seniors and pensioners tax offset than all the receivable income should be the previous amount.

Reason 4

your taxable income was more than these in the case if you were not eligible pensioner income in that case following things are kept in mind

 

  • $18,200 for an Australian resident for tax purposes for the full year
  • $416 for those who were under 18 years of age, but your income was not wages
  • For foreign residents its $1 and their taxable in Australia which did not have a non-resident tax withheld from it, or

Other reasons

If following conditions applied to you, then lodgement of tax is obligatory for you.

  • For a reportable fringe benefits money if in the form of
    Income statement or PAYG payment summary – individual non-business, or foreign employment

superannuation contributions also matter a lot in case of reportable employer if your Income statement or PAYG payment summary – individual non-business, foreign employment as well as business and personal service income.

  • Private health insurance entitlement rebate as a premium reduction, for you and your partner if it’s not claimed.
  • You carried a business either small scale or large.
  • You made a loss; a previous year loss can be claimed.
  • If someone was of 60 years of age or older than this age, then Australian superannuation lump sum whatever amount you received including untaxed amount or death benefit paid to you as a non-dependant.
  • You were under 60 years old and you received an Australian superannuation lump sum that included a taxed element or an untaxed element or it is a superannuation lump sum death benefit paid to you as a non-dependant.
  • Distribution from a trust entitlement for your interest in a partnership in a business for primary production.
  • If you are a special professional having income provisions. Then these provisions apply for literary, dramatic, musical or artistic works, inventors, performance of artists.