Anyone know the answer to this question. ATO too slow to answer, accountant in the Bahamas (possibly not coming back or dead)
Just wondering if anyone knows with the income brackets in the ATO link, is the income
1.) before tax
2.) after tax, but includes any super contributions you made
3.) after tax, includes any super contributions you made
Had a solid look around and can't find any info.
thanks
Try using the Private Health Insurance Rebate calculator linked on the webpage you posted. It says on there that your income is your gross income minus your deductions, so it is before tax, but after deductions.
i did, it gave unintelligent results with no working out information
ok cool thanks
Your accountant might just be out at the moment doing their laundry.
Pretty sure the income definition there is not just the “taxable income” per NOA but rather it is the “income for surcharge purposes”. Someone who had had rental losses or salary sacrifice arrangement will have these added back to arrive at the “income” for PHI rebate calculations.
Reference
i had a look and that's what i was thinking. but couldn't find a definition of income for surcharge purposes, and no example gives anything thing other than a basic query.
can you see where this defined, i may have missed it
a further link within the medicare levy surcharge section will have the definitions for "income for medicare levy surcharge purposes".
Just amended my 2018 return as I also had the 2017 return audited due to the PHI rebate.
The spouses income = taxable income + reportable super + NET investment and rental losses (plus a few other things including trust income that did not affect me)
It's your "taxable income" on your tax return / NOA.