Income Tax Offset Archives - GERARD WILKES & Assoc

April 14, 2023

Low-Middle-Income Tax Offset to Wind Down

Shannon WilkesGeneral, Small Business, Taxation Income Tax, Income Tax Offset, Low-Middle-Income Tax Offset to Wind Down

A tax break for millions of Australians will expire this year. The treasurer has confirmed that the tax offset, otherwise known as the Low and Middle Income Earner Tax Offset (LMITO), will not be extended beyond 30 June 2022 and will end in line with the former government’s decision to wind down the relief measure. The […]