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Rebate income 2011

Work out your rebate income and if you're eligible for the seniors and pensioners tax offset at question T1.

Last updated 28 June 2011

We work out what we call 'rebate income' to determine whether you are eligible for either the senior Australians tax offset at T2 - Senior Australians (includes age pensioners, service pensioners and self-funded retirees) or pensioner tax offset at T3 - Pensioner.

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

  • adjusted fringe benefits amount (total reportable fringe benefit amounts multiplied by 0.535)
  • reportable employer superannuation contributions
  • deductible personal superannuation contributions
  • your net financial investment loss (the amount by which your deductions attributable to financial investments exceeded your total financial investment income)
  • your net rental property loss (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 1

Working out your rebate income

Your taxable income (from TAXABLE INCOME OR LOSS on page 4 of your tax return)

If your taxable income is a loss, write 0 at (a).



Your reportable employer superannuation contributions

(from T item IT2 on page 8 of your tax return)



Your deductible personal superannuation contributions

(from H item D13 on page 15 of your tax return)



Your net financial investment loss

(from X item IT5 on page 8 of your tax return)



Your net rental property loss

(from Y item IT6 on page 8 of your tax return)



Your adjusted fringe benefits amount

Multiply the amount from W item IT1 on page 8 of your tax return by 0.535. Round down to the nearest dollar.



Add up all the amounts from (a) to (f). This is your 'rebate income'.



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