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Individuals – A Quick Checklist of Changes


The ATO have made major changes to the tax offsets available to individuals. If you have previously taken advantage of the following, you may have an increased tax liability for 2012/2013.

Net Medical Expenses Tax Offset:

For adjusted taxable incomes in excess of $84,000 (singles) or $168,000 (couples and families) the offset is 10% of the out of pocket expenses exceeding $5,000.

For taxpayers below, the above thresholds the offset is 20% of the out of pocket expenses exceeding $2160.

The Mature Age Worker Tax Offset

This is now only available for taxpayers born before 1 July, 1957.

The Spouse Tax Offset

This is now only applicable to spouses born before 1 July 1952.

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