Dependent Spouse Tax Offset - Phasing Out 2013
From 1 July 2012, if you have a dependent spouse born on or after 1 July 1952, (that is less than 60 years old at 1/7/2012) you may no longer be entitled to claim the dependent spouse tax offset. The offset is being gradually phased out as the population ages (and the Federal Government tries to balance the budget).
Commencing from 28 September 2012, the ATO will send letters directly to affected taxpayers, to make them aware of the change.
If you were claiming the maximum rebate in 2012 for your dependant spouse who is less than 60 years of age at 1st July 2012, this change will reduce your 2013 Income Tax Refund by $2,355.
Contact us at A Grade Tax Accountants Penrith on (02) 4731-1405 for all your taxation, accounting and tax advice for business and individual clients.
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