Certified Practicing Accountant
Regi. Tax agent & Regi. ASIC Agent
jason@taxcodeaccounting.com.au
 
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2011-12: Spouse Offset phase out

The biggest change and most affecting in terms of value is phasing out Spouse Offset. Now if your spouse was born on or after 1-Jul-1971, you can no longer claim a dependent spouse tax offset for them at T1. This may be a shock to few taxpayers, who used to claim spouse offset and getting handsome refunds.