Client Tools
ATO dependent spouse tax offset phase-out
From 1 July 2011, taxpayers with a dependent spouse born on or after 1 July 1971 will no longer be entitled to claim the dependent spouse tax offset. The offset will be gradually phased out as the population ages to remove disincentives, for younger dependent spouses without children, to enter the workforce.
The ATO will be writing directly to affected taxpayers to let them know. If you have not provided a residential address, the ATO’s letter will be sent to Collins Hume.
If you are claiming the offset through reduced amounts withheld from your salary and wages, you should increase your withholding rate now in order to avoid a possible debt.
For more information, including exemptions to the age limit, refer to Dependent spouse tax offset phase-out and then call us at Collins Hume on 02 6686 3000.
accounting & financial consulting | asset protection | auditing | business coaching & advice | business development & strategic planning | business improvement consulting | business succession planning | business valuations | cash flow analysis & planning | estate planning | financial reporting | investment | self managed super funds | staffing solutions | tax planning & consulting
 Collins Hume is a CPA business |
 |
97 Tamar Street Ballina | 6 Lawson Street Byron Bay | Tel: 02 6686 3000 |
 |
 |
 |