With your help we can achieve the ambitious goal of #100PercentLiteracy for Tasmania by 2030.
Are you ready for Tax Time 2021?
Don’t jump the gun and lodge too early
Tax time 2021 is almost here, but it’s likely to be anything but routine. Many people on reduced incomes or who have increased deductions may be eager to lodge their income tax returns early to get their hands on a refund. However, as always the ATO is warning against lodging too early, before all your income information becomes available.
Personal tax rates unchanged for 2021–2022
In the Budget, the Government did not announce any personal tax rates changes, having already brought forward the Stage 2 tax rates to 1 July 2020 in the October 2020 Budget. The Stage 3 tax changes will commence from 1 July 2024, as previously legislated.
The 2021–2022 tax rates and income thresholds for residents are therefore unchanged from 2020–2021: