Low income offsets: LMITO and LITO retained for 2021–2022L
FEDERAL BUDGET May 2021 PERSONAL TAXATION Low income offsets: LMITO and LITO retained for 2021–2022L Low and middle income tax offset The Government also announced in the Budget that the low and middle income tax offset (LMITO) will continue to apply for the 2021–2022 income year. The LMITO was otherwise legislated to only apply […]