Tax offsets and deductions
You may be entitled to the following tax offsets (rebates) and deductions for the year ended 30 June 2019.
Private health insurance offset
Depending on your income and age, you may be eligible for a tax offset of up to 33.4% on your health insurance.
If you haven’t claimed a reduced premium from your health fund, then you can claim an offset in your tax return.
Spouse super contribution offset
If you made personal superannuation contributions on behalf of a spouse, there is a tax offset of up to $540 per year. This is available for spouse contributions of up to $3,000 per year, where your spouse earns less than $37,000 per year, and a partial tax offset for spousal income up to $40,000 per year.
Net medical expenses tax offset
You may be eligible for this tax offset until 30 June 2019, if you have out-of-pocket medical expenses relating to disability aids, attendant care or aged care.
Senior Australians pensioner tax offset
If you are eligible for the senior Australians pensioner tax offset (SAPTO) you are able to earn more income before you have to pay tax and the Medicare levy. In the 2018/19 financial year, you will pay no tax on an annual income less than:
- singles – $32,915
- couples (each) – $29,609