New changes in Tax return 2019

Personal Income Tax Plan

The Government’s Personal Income Tax Plan, as announced in the 2018-19 Federal budget, has been passed. External Link by Parliament. There will be:

  • changes to income tax rate thresholds in the 2018-19, 2022-23- and 2024-25-income years
  • a new low and middle income tax offset to reduce the tax payable by low and middle income earners in the 2018-19, 2019-20, 2020-21 and 2021-22 income years
  • a new low income tax offset from the 2022-23 income year (to replace both the new low and middle income tax offset and the current Low Income Tax Offset ).

Fringe benefits tax – rates and thresholds

This information contains fringe benefits tax (FBT) rates and thresholds for the 2016–17 to 2018–19 FBT years.

The FBT year runs from 1 April to 31 March.

Certain rates and thresholds are referenced from the relevant taxation determination

Pay by instalments threshold

If your FBT liability for the last year was $3,000 or more, you will need to pay four quarterly instalments.

If you need any more information  to Start Online Income Tax Return, or want to know about myTax 2019, online tax return 2019, myGov 2019, Tax Return 2019 , Please contact our Tax accountant on 1300 768 284 or email us at enquiry@taxrefundonspot.com.au or Fill your details online at www.taxrefundonspot.com.au.