Government allowances and payments and the beneficiary tax offset

If you are entitled to  receive certain Australian Government allowances and payments a beneficiary tax offset from ATO may be eligible for you.

You can claim the offsets but you need to put every payment in your individual tax return. 

With the help of  Beneficiary tax offset and seniors and pensioners tax offset calculator, you can at least check your eligibility and calculate the offset amount to claim in your individual tax return.

If you have no tax payable amount to ATO, the beneficiary tax offset is not available to be used as there is nothing to offset declared in your return.

You have no need to pay tax to ATO if you:

• only receive any of the qualifying Australian Government allowances and payments, and
• have no other taxable income.

If you have other assessable income you may still need to pay some tax to ATO as your liability.