I was talking to a friend today and she said that if you have earnt under the tax free threshold and haven't paid any tax, you don't need to lodge a tax return.
Does any one know if this is true?
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21-07-2014 21:26 #1Senior Member
- Join Date
- Nov 2012
21-07-2014 21:29 #2
It might be true depending on your circumstances
21-07-2014 21:32 #3
Do you need to lodge a tax return ?
If any of the following applies to you then you must lodge a tax return:
During 2013–14, you were an Australian resident and you:
> paid tax under the pay as you go (PAYG) withholding or instalment system, or
> had tax withheld from payments made to you.
You were eligible for the seniors and pensioners tax offset and your rebate income (not including your spouse’s) was more than:
>$32,279 if you were single, widowed or separated at any time during the year
>$31,279 if you had a spouse but one of you lived in a nursing home or you had to live apart due to illness, or
>$28,974 if you lived with your spouse for the full year.
You were not eligible for the seniors and pensioners tax offset but you received a payment listed at question 5 Australian Government allowances and payments and other taxable payments which when added together made your taxable income more than $20,542.
You were not eligible for the seniors and pensioners tax offset and you did not receive a payment listed at question 5 or 6, but your taxable income exceeded:
>$18,200 if you were an Australian resident for tax purposes for the full year
>$416 if you were under 18 years old at 30 June 2014 and your income was not salary or wages
>$1 if you were a foreign resident and you had income taxable in Australia which did not have non-resident withholding tax withheld from it, or
your part-year tax-free threshold amount if you became or stopped being an Australian resident for tax purposes. Go to What is the tax-free threshold to work out your threshold amount or phone 13 28 61 between 8.00am and 6.00pm, Monday to Friday.
You must lodge a tax return if any of the following applied to you:
> You had a reportable fringe benefits amount on your PAYG payment summary – individual non-business or PAYG payment summary – foreign employment.
> You had reportable employer superannuation contributions on your PAYG payment summary – individual non-business or PAYG payment summary –foreign employment.
> You were entitled to the private health insurance rebate but did not claim your entitlement as a premium reduction and your income for surcharge purposes is below $88,000 for singles and $176,000 for families*
* The family income threshold is increased by $1,500 for each Medicare levy surcharge dependent child after the first child.
> You carried on a business.
> You made a loss or you can claim a loss you made in a previous year.
> You were 60 years old or older and you received an Australian superannuation lump sum that included an untaxed element.
> You were under 60 years old and you received an Australian superannuation lump sum that included a taxed element or an untaxed element
> You were entitled to a distribution from a trust or you had an interest in a partnership and the trust or partnership carried on a business of primary production.
> You were an Australian resident for tax purposes and you had exempt foreign employment income and $1 or more of other income. For 2009–10 and subsequent years, there are changes limiting the exemption for foreign employment income.
> You are a special professional covered by the income averaging provisions. These provisions apply to authors of literary, dramatic, musical or artistic works; inventors; performing artists; production associates and active sportspeople.
> You received income from dividends or distributions exceeding $18,200 (or $416 if you were under 18 years old on 30 June 2014) and you had:
franking credits attached, or
amounts withheld because you did not quote your tax file number or Australian business number to the investment body.
> You made personal contributions to a complying superannuation fund or retirement savings account and will be eligible to receive a super co-contribution for these contributions.
> You have exceeded your concessional contributions cap and may be eligible for the Refund of excess concessional contributions offer
> You were either a liable parent or a recipient parent under a child support assessment unless you received Australian Government allowances, pensions or payments (whether taxable or exempt) for the whole of the period 1 July 2013 to 30 June 2014, and the total of all the following payments was less than $23,523:
exempt Australian Government allowances, pensions and payments
target foreign income
reportable fringe benefits
net financial investment loss
net rental property loss, and
reportable superannuation contributions.
Your 'spouse' includes another person (whether of the same sex or opposite sex) who:
you were in a relationship with that was registered under a prescribed state or territory law,
although not legally married to you, lived with you on a genuine domestic basis in a relationship as a couple.
To continue your determination, select the BACK button on your browser.
For other important information, go to:
ATO main page
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21-07-2014 21:54 #4Senior Member
- Join Date
- Nov 2012
Thank you. Going by that info I will have to lodge one as I have a small business (family day care).
21-07-2014 21:58 #5
Yes if you have a business you need to lodge a return.
Good on you for checking out what you friend told you. General advice is dangerous for tax purposes as everyone circumstances are different
21-07-2014 22:03 #6Senior Member
- Join Date
- Nov 2012
Thank you for your help.
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