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Income and deductions
Income tax is paid on money you receive, such as salary and wages, Centrelink payments, investment income from rent, interest and dividends, and profits from selling shares or property.
You can reduce the amount of tax you pay by claiming certain deductions that are directly related to earning your income.
Your tax may be further reduced if you are eligible for certain tax offsets or government rebates.
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Duration 5 mm:18 ss. A transcript of Tax in Australia: what you need to know (tax return basics) is also available.
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