From 1 July 2012, the tax-free threshold increased to $18,200, and the low-income tax offset reduced to $445, making the effective tax-free threshold $20,542.
Even if your income is under the threshhold there are reasons why you may still need to lodge an income tax return.
The most common reason would be that you had pay as you go (PAYG) withheld from payments received during the year.
A final note, we sometimes have clients who may have received some form of Centrelink income for a short period and don't receive the certificate from Centrelink and forget to include it as income. These amounts may push the income over the threshho;d.
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