The much talked about increase in the tax offset from $530 to $1,080 has passed through the Senate on Thursday the 4 July 2019.

From the 2018-2019 tax year the Government has increased the low and middle income tax offset from a maximum of $530 to $1,080 and from the minimum of $200 to $255.

Taxpayers with a taxable income under $37,000 will receive a tax offset of up to $255 and taxpayers with a taxable income between $37,000 and 90,000 will be eligible to receive up to $1,080.

The Australian Taxation Office (ATO) is expecting to start processing the tax offsets for eligible taxpayers and issuing the additional credits from 16 July 2019.

Follow the below link for more details:–Building-on-the-Personal-Income-Tax-Plan/

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