Noosa News
Millions to miss out when tax offset stimulus ends June 30
Monday April 19, 2021
Millions of Australians will be worse off when a tax stimulus measure finishes at the end of this financial year.
Treasurer Josh Frydenberg says Facebook will restore Australian news to its platform. (Photo: AAP Image/Lukas Coch)
The $1080 low and middle income tax offset (LMITO), which benefits people with a taxable income of between $48,000 and $90,000, is due to end in June.
Analysts at the Bankwest Curtin Economics Centre estimate some 3.4 million taxpayers will lose out from its removal, 50 per cent of whom will be women.
The LMITO, which is claimable when…
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