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Government announces threshold

Monday 18 August, 2008 The Government announced a $150,000 threshold for dependant tax offset in the Budget Night on 13 May 2008. From 1 July 2008, only taxpayers with taxable income of $150,000 or less are eligible to claim the dependant tax offset. This threshold will apply to the following offsets:

• spouse
• housekeeper
• child housekeeper
• parent/parent-in-law, and
• invalid relative.

The bill introducing this announcement is titled:  
Families, Housing, Community Services and Indigenous Affairs and other Legislation Amendment (2008 Budget and Other Measures) Bill 2008 Act No.63

The bill was introduced on the 29/5/08 and received royal assent on 30/6/08.