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Rebate income

Last updated 27 June 2018

We work out what we call 'rebate income' to determine whether you are eligible for the seniors and pensioners tax offset.

Your rebate income is the total amount of your taxable income plus the following amounts if they apply to you:

  • reportable fringe benefits amounts you received from employers exempt from fringe benefits tax under section 57A of the Fringe Benefits Tax Assessment Act 1986 multiplied by 0.53
  • reportable fringe benefits amounts from employers not exempt from fringe benefits tax under section 57A of the Fringe Benefits Tax Assessment Act 1986
  • reportable employer superannuation contributions
  • deductible personal superannuation contributions
  • your net financial investment loss (that is, the amount by which your deductions attributable to financial investments exceeded your total financial investment income)
  • your net rental property loss (that is, the amount by which your deductions attributable to rental property exceeded your rental property income).

To work out your rebate income, use the following worksheet.

Worksheet - Working out your rebate income

Row

Calculation

Amount

a

Your taxable income
If your taxable income is a loss, write 0 at row a.

$             

b

Your reportable employer superannuation contributions

$

c

Your deductible personal superannuation contributions

$

d

Your net financial investment loss

$

e

Your net rental property loss

$

f

Your reportable fringe benefits amounts from employers exempt from FBT under section 57A of FBTAA 1986 multiplied by 0.53.
Round down the answer to the nearest dollar.

$

g

Your reportable fringe benefits amounts from employers not exempt from FBT under section 57A of FBTAA 1986.

$

h

Add up the amounts from rows a to g.
This is your rebate income.

$

QC55665