Label G low income tax offset- anyone know how it is applied?
Just doing our taxes and looking at our previous years notice of assessment there is a $1200 low income tax offset there. From memory the estimate I got from etax was alot lower than the actual amount we recieved back ie didn't include this $1200 offset.
So I'm just wondering if anyone can tell me if the offset is applied once the tax return is submitted? The estimate I am getting is way under what we got last year but if that offest was applied they would be very similar so I'm wondering if this is whats wrong?