Anthony Albanese brings back a hated $1500 tax for millions – as Australians continue to fight rising cost of living as inflation soars
<!–
<!–
<!– <!–
<!–
<!–
<!–
More than ten million Australians are missing out on a $1,500 tax offset in the government’s upcoming federal budget.
Those who earned between $37,000 and $126,000 were eligible for the low and middle income tax (LMITO), also known as the lamington tax benefit.
Those who earned a salary of $37,000 or less could get $675 back, while those who made more than $37,000 but less than $90,000 a year were eligible for the full $1,500.
More than ten million Australians are missing out on $1,500 tax offsets in the government’s upcoming federal budget
The compensation was brought in during the 2018/2019 fiscal year, but was extended twice during the pandemic.
But Anthony Albanese’s government has since indicated that the tax break will not be reintroduced.
It was estimated that 10.2 million Aussies were eligible.
Aussies have until October 31 to claim it for this fiscal year.
More to come