Beneficiary Tax Offset 2009-10
The Beneficiary Tax Offset (BTO) may be available to a taxpayer who receives a qualifying payment or allowance (a taxable benefit).
Common taxable benefits that qualify for the offset include: Austudy, CDEP, mature age allowance, newstart allowance, parenting payment (partnered), partner allowance, sickness allowance, special benefit, widow allowance and youth allowance.
For the 2009-10 financial year the BTO is calculated as follows:
| Taxable benefits | Offset |
| 0 – 35,000 | 0.15 x [Taxable Benefits - $6,000] |
| 35,001+ | 0.15 x [Taxable Benefits - $6,000] + 0.15 x [Taxable Benefits - $34,000] |
Online Calculator
The Taxation Office have an online Beneficiary Tax Offset Calculator available from their website. You can use this calculator to work out the beneficiary tax offset that you can claim. The application has some limitations and cannot calculate your beneficiary tax offset if you were a part-year resident.
More Information
For more information, including a full list of qualifying payments, check out the Tax Office page ‘What is the beneficiary tax offset?‘
This information is for guidance only and is not intended as specific advice to any reader. Professional advice should be obtained before acting on any information contained herein. The publisher accepts no responsibility for loss occasioned to any person or organisation as a result of action or the refrain of action as a consequence of the contents of this publication.