2022 Federal Budget

2022-2023 Budget Measures That Are Now Law

By Warren Kruger / April 1, 2022 / 0 Comments

Low and Middle Income Tax Offset A measure that will no doubt be beneficial for individual taxpayers is the increase in the Low and Middle Income Tax Offset (‘LMITO’) for the 2022 income year by $420.  The LMITO is a tax offset which reduces an individual taxpayer’s tax liability. This means that the maximum amount […]

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