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DO I HAVE TO LODGE A 2007 INDIVIDUAL TAX RETURN?

Generally, an individual will be required to lodge a tax return with the Australian Taxation Office if you fall within any of the categories below:
  1. You paid tax during the income year.

  2. You were eligible for the Senior Australian tax offset and:
    Your taxable income was more than:

    • $24,867 - if you were single, widowed or separated at any time during the year;
    • $23,600 - if you had a spouse but either of you lived in a nursing home or you had to live apart due to illness; or
    • $20,680 - if you lived with your spouse for the full year;

  3. You received a Commonwealth of Australia government allowance or payment but you are not eligible for the Senior Australian tax offset, you had other income and your taxable income was more than $10,000.

  4. You received a Commonwealth of Australia government pension from Centrelink or the Department of Veterans' Affairs and:

    • you were single or widowed at any time during the year and your taxable income was more than $21,637;
    • you had a spouse but either of you lived in a nursing home or had to live apart due to illness and your taxable income was more than $20,710; or
    • you lived with your spouse for the full year and your taxable income was more than $18,330.

  5. If you earned more than:

    • $6,000 and you were an Australian resident for tax purposes for the full year;
    • $1,332 (non salary and wages) and you were under 18 years of age at 30 June; or
    • $1 and you were a non-resident who had income taxable in Australia - excluding income that has non-resident withholding tax withheld from it.

  6. If you stopped being an Australian resident for tax purposes, you will have a part-year tax-free threshold which determines whether you have to lodge a tax return.

  7. You are the liable parent under a child support assessment.

  8. You have a reportable fringe benefits amount on your PAYG payment summary - individual non-business.

  9. You are entitled to a 30% private health insurance tax offset.

  10. You carried on a business.

  11. You made a loss, or you can claim a loss you made in a previous year.

  12. You were entitled to a distribution from a trust, or you had an interest in a partnership and the trust or partnership carried on a business of primary production.

  13. You were an Australian resident for tax purposes who had exempt overseas employment income and $1 or more of other income.

  14. You are a special professional covered by the income averaging provisions. These provisions apply to authors of literary, dramatic, musical or artistic works, inventors, performing artists, production associates and active sportspersons.

  15. You received income from dividends or distributions exceeding $6,000 (or $416 if you were under 18 years of age at 30 June) and you had imputation/franking credits or amounts withheld because you did not quote your TFN or ABN to the investment body.

  16. You made personal super contributions and are eligible for the Super Co-contribution.

Please call us if you are unsure of your tax return lodgement obligations [contact us]

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