Coronavirus (COVID-19): Tax obligations

Trò chơi xổ số Việt NamRead about how may affect your tax this year.

Trò chơi xổ số Việt NamTax is money the Australian Government collects to pay for services provided to the community, such as health, education, social services and defence. There are different kinds of taxes including income tax, which is calculated on the income you receive.

Trò chơi xổ số Việt NamMost people need to lodge a tax return after each financial year (30 June).

You have until 31 October to lodge your tax return, declaring your annual income and any work related expenses. If you use a registered tax agent you can lodge it later. You might get a refund if you have paid too much tax.

Trò chơi xổ số Việt NamRead a provided by the Australian Tax Office.

Salary sacrifice

Salary sacrifice is an arrangement between you and your employer. It is also known as salary packaging or total remuneration packaging. Salary sacrifice is not compulsory and might not be offered by all employers.

Trò chơi xổ số Việt NamSome employers may offer salary sacrifice as part of a reduced wage (and a lower taxable income) and in return your employer provides you with benefits to a similar value.

Trò chơi xổ số Việt NamCommon goods and services that might be salary sacrificed include your superannuation, or vehicle costs.

Trò chơi xổ số Việt NamSalary sacrificing is another way of paying less tax.

Read more about including the:

  • requirements
  • types of benefits that can be included
  • implications of entering into a salary sacrifice arrangement.

Fringe benefits

A fringe benefit is a benefit you or an associate receives because Trò chơi xổ số Việt Nam of your employment. You can be a current, future or former employee and still receive fringe benefits.

For example, you receive a fringe benefit when your employer gives you a work car for private purposes, a cheap loan, or a living away from home allowance.

It is worth being aware that some fringe benefits can affect your Medicare levy surcharge.

Read about including:

  • what they are
  • who pays fringe benefits tax (FBT)
  • the different types of fringe benefits
  • how your reportable fringe benefits amount is calculated
  • what happens when you have fringe benefits reported on your payment summary.

Trò chơi xổ số Việt NamRead extra information about .