From the Cambridge English Corpus
They will not fill in a tax return, like those who are not eligible to claim the credit.
From the
Hansard archive
Example from the Hansard archive. Contains Parliamentary information licensed under the Open Parliament Licence v3.0
For the tax year 1996–97 around 70,000 copies were issued and at least 28,000 were used to file a tax return.
From the
Hansard archive
Example from the Hansard archive. Contains Parliamentary information licensed under the Open Parliament Licence v3.0
If registration for the community charge was difficult, getting people to make an income tax return to the town hall would be impossible.
From the
Hansard archive
Example from the Hansard archive. Contains Parliamentary information licensed under the Open Parliament Licence v3.0
This is not as comprehensive as the tax return guide but answers many of the questions which elderly people ask about their income tax.
From the
Hansard archive
Example from the Hansard archive. Contains Parliamentary information licensed under the Open Parliament Licence v3.0
The obligation to make a disclosure should rest with the taxpayer when he completes his tax return each year.
From the
Hansard archive
Example from the Hansard archive. Contains Parliamentary information licensed under the Open Parliament Licence v3.0
The tax is due from the time the tax return has to be filed.
From the
Hansard archive
Example from the Hansard archive. Contains Parliamentary information licensed under the Open Parliament Licence v3.0
I think that there is no more private or personal matter to the ordinary citizen than his income tax return.
From the
Hansard archive
Example from the Hansard archive. Contains Parliamentary information licensed under the Open Parliament Licence v3.0
I suspect that many people, if asked that question, would say that it was completing their tax return.
From the
Hansard archive
Example from the Hansard archive. Contains Parliamentary information licensed under the Open Parliament Licence v3.0
So the purpose it serves is not quite the same as the tax return.
From the
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Example from the Hansard archive. Contains Parliamentary information licensed under the Open Parliament Licence v3.0
Does he agree that experience teaches that the last thing that a major criminal ever does is file a tax return?
From the
Hansard archive
Example from the Hansard archive. Contains Parliamentary information licensed under the Open Parliament Licence v3.0
Obviously, automatic penalties will be imposed on those who fail to get their tax return in on time.
From the
Hansard archive
Example from the Hansard archive. Contains Parliamentary information licensed under the Open Parliament Licence v3.0
Amounts shown on a player's tax return are taken into account in calculating any tax due.
From the
Hansard archive
Example from the Hansard archive. Contains Parliamentary information licensed under the Open Parliament Licence v3.0
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These examples are from corpora and from sources on the web. Any opinions in the examples do not represent the opinion of the Cambridge Dictionary editors or of Cambridge University Press or its licensors.
The tax-free threshold is an amount of money you can earn each financial year without needing to pay tax. According to the Australian Taxation Office [ATO] the tax-free threshold is $18,200. This means if you’re an Australian resident for tax purposes, the first $18,200 of your income each financial year is tax-free and you only pay tax if you earn above this amount. If you’re an Australian resident with a tax file number, the tax-free threshold could help reduce how much income tax you need to pay. Here’s how it works. The good news is that claiming the tax-free threshold is normally fairly simple, as the Australian Taxation Office [ATO] explains. Whenever you start a new job or apply for a new Centrelink payment, you’ll be given a ‘tax file number declaration’ form to complete, and all you have to do is answer ‘Yes’ to the question ‘Do you want to claim the tax-free threshold from this payer?’ Generally not – standard practice is to only claim the tax-free threshold on one job at a time. The ATO says that in the case of people with two or more income sources in the same financial year, “we generally require that you only claim the tax-free threshold from the payer who usually pays the highest salary or wage”. Only if you’re certain your total annual income from all payers will be less than $18,200 can you claim the tax-free threshold from each payer. However, if your income ends up being more than $18,200 for the year, you would then need to fill out a withholding declaration form and give it to one of your employers, to tell them you aren’t claiming the tax-free threshold from it anymore. If you don’t do this, you may end up being undertaxed, which would mean you have to pay extra tax at the end of the financial year. On the other hand, if you claim the tax-free threshold from only one employer, your second income stream and any other sources of income beyond that will be taxed at the higher, ‘no tax-free threshold’ rate. The ATO notes that this may possibly lead to you being overtaxed during the year, but that any excess withheld funds will be returned to you at the end of the financial year in the form of a tax refund once you do your tax return. If you don’t claim the tax-free threshold at all for a financial year, then you may have to pay income tax on all the money you make. This would most likely result in you paying more tax than you need to during the year, since Australia’s income tax brackets and rates [as shown in the table below] assume you do claim the tax-free threshold to avoid paying tax on the first $18,200 you earn. Total taxable incomeTax rate$0 – $18,200No tax$18,201 – $45,00019c for each $1 over $18,200$45,001 – $120,000$5,092 plus 32.5c for each $1 over $45,000$120,001 – $180,000$29,467 plus 37c for each $1 over $120,000$180,001 and over$51,667 plus 45c for each $1 over $180,000 Source: ATO, 2021, effective for Australian residents in the 2021/22 financial year. The above rates do not include the Medicare Levy of 2%. The ATO will most likely give this overpaid tax back to you as a refund once you do your tax return, but this would still mean you pay more upfront tax during the year. The ATO adds that you can fill out a PAYG withholding variation application form if you want to reduce how much tax gets taken out of your pay packet going forward. Calculate Your Income Tax For The YearHow do I claim the tax-free threshold?
Compare Superannuation
Can I claim the tax-free threshold on more than one job?
What happens if I don’t claim the tax-free threshold?
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Compare Superannuation with Canstar
The table below displays some of the superannuation funds currently available on Canstar’s database for Australians aged 30 to 39 with a super balance of up to $55,000. The results shown are sorted by Star Rating [highest to lowest] and then by 5 year return [highest to lowest]. Performance figures shown reflect net investment performance, i.e. net of investment tax, investment management fees and the applicable administration fees based on an account balance of $50,000. To learn more about performance information, click here. Consider the Target Market Determination [TMD] before making a purchase decision. Contact the product issuer directly for a copy of the TMD. Use Canstar’s superannuation comparison selector to view a wider range of super funds. Canstar may earn a fee for referrals.
Glossary
Provider
Star Rating
Annual fees at $50k balance
1 year return
5 year return
Glossary
Aware Super | Personal - High Growth
More details
$517 Glossary
-3.9% Glossary
High Growth Glossary
7.3% Glossary
High Growth Glossary
Active Super | Lifestage - Accelerator
Link Not Supplied
$621 Glossary
-1.1% Glossary
Lifestage - Accelerator Glossary
7.2% Glossary
Lifestage - Accelerator Glossary
Hostplus Super | Personal - Balanced
Link Not Supplied
$650 Glossary
-0.3% Glossary
Balanced Glossary
7.2% Glossary
Balanced Glossary
AustralianSuper | Balanced
More details
$447 Glossary
-1.4% Glossary
Balanced Glossary
6.9% Glossary
Balanced Glossary
UniSuper | Personal Account - Balanced [MySuper]
More details
$336 Glossary
-1.7% Glossary
Balanced [MySuper] Glossary
6.6% Glossary
Balanced [MySuper] Glossary
View more Superannuation products
View Important Information
- Performance, fee and other information displayed in the table has been updated from time to time since the rating date and may not reflect the products as rated.
- The performance and fee information shown in the table is for the investment option used by Canstar in rating of the superannuation product.
- Performance information shown is for the historical periods up to 31/10/2022 and investment options noted in the table information.
- Performance figures shown reflect net investment performance, i.e. net of investment tax, investment management fees and the applicable administration fees based on an account balance of $50,000. To learn more about performance information, click here.
- Performance data may not be available for some products. This is indicated in the tables by a note referring the user to the product provider, or by no performance information being shown.
- Please note that all information about performance returns is historical. Past performance should not be relied upon as an indicator of future performance; unit prices and the value of your investment may fall as well as rise.
- Any advice on this page is general and has not taken into account your objectives, financial situation or needs. Consider whether this general financial advice is right for your personal circumstances. You may need financial advice from a qualified adviser. Canstar is not providing a recommendation for your individual circumstances. See our Detailed Disclosure.
- Not all superannuation funds in the market are listed, and the list above may not include all features relevant to you. Canstar is not providing a recommendation for your individual circumstances.
- Canstar may earn a fee for referrals from its website tables, and from Sponsorship or Promotion of certain products. Fees payable by product providers for referrals and Sponsorship or Promotion may vary between providers, website position, and revenue model. Sponsorship or Promotion fees may be higher than referral fees. Sponsored or Promotion products are clearly disclosed as such on website pages. They may appear in a number of areas of the website such as in comparison tables, on hub pages and in articles. Sponsored or Promotion products may be displayed in a fixed position in a table, regardless of the product’s rating, price or other attributes. The table position of a Sponsored or Promoted product does not indicate any ranking or rating by Canstar. For more information please see How We Get Paid.
- Click here for additional important notes and liability disclaimer.
Performance and Investment Allocation Differences
- Fee, performance and asset allocation information shown in the table above have been determined according to the investment profile in the Canstar Superannuation Star Ratings methodology.
- Some providers use different age groups for their investment profiles which may result in you being offered or being eligible for a different product to what is displayed in the table. See here for more details.
- Australian Retirement Trust Super Savings’ allocation of funds for investors aged 55-99 differ from Canstar’s methodology – see details here.
- The Australian Retirement Trust Super Savings [formerly Sunsuper for Life] product may appear in the table multiple times. While you will not be offered any single investment option, this is to take into account the different combinations of investment options Australian Retirement Trust may apply to your account based on your age. For more detail in relation to the Australian Retirement Trust [formerly SunSuper for Life] product please refer to the PDS issued by Australian Retirement Trust for this product.
- Investment profiles applied initially may change over time in line with an investor’s age. See the provider’s Product Disclosure Statement and in particular applicable age groups for more information about how providers determine their investment profiles.
How does the tax-free threshold apply to PAYG tax?
The yearly tax-free threshold figure of $18,200 is useful to be aware of when you’re doing your annual tax return, but it may not be particularly helpful if you want to figure out whether you need to make pay-as-you-go [PAYG] tax installment payments on your regular income. Instead, the equivalent tax-free cut offs that apply to regular earnings could be useful to know about. Based on ATO figures, these are:
- If you’re paid weekly, you’ll pay tax on any earnings above $350.
- If you’re paid fortnightly, you’ll pay tax on any earnings above $700.
- If you’re paid monthly, you’ll pay tax on any earnings above $1,517.
You can also use our income tax calculator to get an idea of the tax you’ll pay on your annual income.
It’s important to note, however, that your employer typically won’t automatically apply the tax-free threshold to your earnings. As the ATO states, it’s something you have to actively claim when you start a new job or apply for a Centrelink payment, otherwise PAYG tax will be calculated from the first dollar, regardless of how much or how little you earn.
Learn more about superannuation:
- Working from home: What tax deductions might you be able to claim?
- Top-performing super funds on Canstar’s database
- How to choose a super fund
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This article was reviewed by our Deputy Editor Sean Callery before it was updated, as part of our fact-checking process.
TOM LETTS
Sub Editor
Tom holds a Bachelor of Arts [French and International Relations] and a Bachelor of Laws [Honours] from The University of Queensland, and previously spent six years as a quality assurance manager at Pacific Transcription, a global transcription company.