What is rebate income?
Your rebate income is the total amount of your taxable income (excluding any assessable First home super saver released amount) plus the following amounts if they apply to you:
- adjusted fringe benefits total, which is the sum of
- reportable fringe benefits amounts you received from employers exempt from fringe benefits tax under section 57A of the Fringe Benefits Tax Assessment Act 1986 multiplied by 0.53, and
- reportable fringe benefits amounts from employers not exempt from fringe benefits tax under section 57A of the Fringe Benefits Tax Assessment Act 1986
- reportable employer superannuation contributions
- deductible personal superannuation contributions
- your net financial investment loss (that is, the amount your deductions from your financial investments exceeded your total financial investment income)
- your net rental property loss (that is, the amount by which your deductions attributable to rental property exceeded your rental property income).
Calculate your rebate income
To work out your rebate income, use the following worksheet.
Row | Calculation | Amount |
|---|---|---|
a | Your taxable income | $ |
b | Your reportable employer superannuation contributions | $ |
c | Your deductible personal superannuation contributions | $ |
d | Your net financial investment loss | $ |
e | Your net rental property loss | $ |
f | Your adjusted fringe benefits total – the sum of:
| $ |
g | Add up the amounts from rows a to f. This is your rebate income. | $ |
Go back to question T1 Seniors and pensioners tax offset 2024.