You may be able to claim a tax offset of up to $540 if you contributed to a superannuation fund or retirement savings account (RSA) on behalf of your spouse, either married or de facto, who do not work or who receives a low income.
Private Health Insurance Offset
The Private Health Insurance Offset also referred to as the Private Health Insurance Rebate, allows you a tax offset for a percentage of the premium you paid to a registered health insurer for a complying private health insurance policy. The percentage you can claim as an offset depends on the age of the oldest person the policy covers.
You can claim the Private Health Insurance Offset as a:
- Reduction in your private health insurance premium through your tax return
- Cash or cheque rebate from Medicare
- A refundable tax offset at the end of the income year through your tax return
- A combination of the preceding options, one for a different period of the year
A housekeeper is someone who works as a full-time employee keeping house* for you and caring for any or all of the following:
- A child of yours under 21 years old, regardless of the child’s ATI
- Any other child under 21 years old who is your dependent and whose ATI for the period you maintain them is less than the total of $282 plus $28.92 for each week you maintain them
- A dependent invalid relative for whom you can claim an offset
- Your invalid spouse
* Keeping house means that you have some responsibility for the general running of the household. It does not only refer to childminding or domestic duties.
As an Australian resident, you are eligible for the housekeeper offset for any period during which you had a full-time housekeeper if one of the following applies:
- You will not:
- Have a spouse
- Claim a child-housekeeper tax offset
- Be eligible for the FTB Part B or were eligible for it only at the shared-care rate, or be receiving parental leave pay
- You have an invalid spouse and you will not be entitled to claim a child-housekeeper tax offset
- You have a spouse who was not an invalid spouse, and
- You will not be entitled to claim a dependent spouse tax offset or a child-housekeeper tax offset
- Neither you nor your spouse will be eligible for FTB Part B or will be eligible for it only at the shared-care rate
- Neither you nor your spouse will receive Parental Leave Pay
For additional information about the Housekeeper Tax Offset, please visit the ATO website.
Taxpayers who receive income from an Australian superannuation income stream may be able to claim a tax offset amounting to 15% of the taxed element or 10% of the untaxed element.
If you are under 55, you cannot get an offset for the taxed element of your superannuation income stream unless it was from a disability superannuation benefit or a death benefit income stream.
Likewise, if you are under 60 you cannot claim an offset for the untaxed portion of your superannuation income stream unless the superannuation income stream was a death benefit income stream and the deceased died before they turned 60 years old.
The amount of the offset due is on your PAYG payment summary – superannuation income stream.
The Senior Australians Tax Offset, now part of the Senior Australians and Pensioners Tax Offset (SAPTO), is designed to provide a tax break for low-income, elderly Australians. In order to qualify for the tax offset, you must pass three tests related to age; income; and eligibility for Australian Government pensions.
For instance, if you are male, you must be
- A non-veteran age 65 or older on 30 June 2016, or
- A veteran or war widower age 60 or older on the same date.
And, if you are female, you must be
- A non-veteran age 64 plus 6 months, or older, on 30 June 2016, or
- A veteran or war widower age 59 plus 6 months, or older, on the same date.
If you are:
- Single- your rebate income must be less than $50,119
- Married- your combined rebate income must be less than $83,580.
- If you and your spouse had to live apart- due to illness or because one of you was in a nursing home your combine rebate, income must be less than $95,198.
- Rebate income threshold amounts are indexed each year