Are you due a $1,080 tax rebate? How to maximise your tax return – as 108,000 Australians rush to submit theirs in record time
- A record 108,000 Australians filed tax return on July 1 – first day of financial year
- Close to one million individuals had submitted their annual tax return by July 9
- Those earning $37,000 to $126,000 are now entitled $255 to $1,080 in tax relief
A record number of Australians have filed their tax return in a bid to claim up to $1,080 in tax cuts.
Almost one million people last week lodged their tax return with 991,000 submitted as of July 9, Australian Taxation Office data showed.
On July 1 alone, a record 108,000 individuals fill in their annual return for 2020, surpassing the previous 98,000 financial new year’s day record set in 2019.
More 10million Australians earning between $37,000 and $126,000 are entitled between $255 and $1,080 in low and middle-income offsets.
A record number of Australians have filed their tax return in a bid to claim up to $1,080 in tax cuts. More 10million Australians earning between $37,000 and $126,000 are entitled between $255 and $1,080 in low and middle-income offsets
Almost half, or 4.5million of them earning between $48,000 and $90,000, will be eligible for the full $1,080 benefit.
Treasurer Josh Frydenberg said tax cuts announced in his April 2019 budget will help Australians keep more of what they earn.
‘A record number of Australians have already lodged their tax return with refunds to land in bank accounts over the course of the week,’ he said.
‘It means people can keep more of what they earn providing a much needed boost to the household budgets.
‘Millions of Australians across the country are set to benefit again this tax time from the government’s tax cuts.’
The low and middle-income tax offset was increased to $1,080 for singles and $2,160 for couples in Mr Frydenberg’s first budget as treasurer, ahead of the May 2019 election.
Treasurer Josh Frydenberg said tax cuts announced in his April 2019 budget will help Australians keep more of what they earn. He is pictured with his wife Amie at Parliament House in Canberra for the annual Midwinter Ball