Result In The Lowest Income Tax Expense. This preview shows page 2 - 7 out of 16 pages. The low and middle income tax offset amount is between 255 and 1080.
Low Income Tax Offset LITO Mature Age Workers Tax Offset Medical Expenses Tax Offset Senior Australians Tax Offset SAPTO Small Business Tax Discount Offset Sole Parent Rebate Spouse Super Contributions Tax Offset Zone Tax Offset. Finished goods work in process raw materials. The Low and Middle Income Earners Tax Offset.
Goods in transit from a supplier shipped FOB destination.
The Seniors and Pensioners Tax Offset SAPTO the Low Income Tax Offset LITO and. If the partner earns less than 10800 the spouse receives an 18 per cent tax offset in their tax return for a contribution of up to 3000 providing a maximum offset of 540. Low and middle income tax offsets. In a period of increasing prices which inventory flow assumption will result in the lowest amount of income tax expense.