• Claiming tax offsets

    Attention

    Warning:

    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    If your employee chooses to claim their entitlement to a tax offset through reduced withholding, they must give you a Withholding declaration.

    To work out your employee's annual tax offset entitlement into a weekly value, use the Ready reckoner for tax offsets. Deduct this amount from the amount shown in column 2 or 3 of the Withholding look-up tool.

    Ready reckoner for tax offsets

    Amount Claimed
    $

    Weekly value
    $

    1

    -

    2

    -

    3

    -

    4

    -

    5

    -

    6

    -

    7

    -

    8

    -

    9

    -

    10

    -

    20

    -

    30

    1.00

    40

    1.00

    50

    1.00

    57

    1.00

    60

    1.00

    70

    1.00

    80

    2.00

    90

    2.00

    100

    2.00

    200

    4.00

    300

    6.00

    338

    6.00

    400

    8.00

    500

    10.00

    600

    11.00

    700

    13.00

    800

    15.00

    850

    16.00

    900

    17.00

    1000

    19.00

    1100

    21.00

    1173

    22.00

    1200

    23.00

    1300

    25.00

    1400

    27.00

    1500

    29.00

    1600

    30.00

    1700

    32.00

    1750

    33.00

    1800

    34.00

    1900

    36.00

    2000

    38.00

    2500

    48.00

    2535

    48.00

    3000

    57.00

    If the exact tax offset amount claimed is not shown in the ready reckoner, you add the values for an appropriate combination.

    Example

    Tax offsets of $422 claimed. Add values of $400, $20 and $2

    = $8 + $0 + $0

    = $8.

    Therefore, reduce the amount to be withheld by $8.

    End of example
    Last modified: 01 Jul 2014QC 39432