Taxation of individuals and partnerships

Question 1

Individuals

Answer 1

Resident individuals whose Taxable Income exceeds the tax free threshold ($18,200) are required to lodge a tax return ITAA97s3-10(1)Individuals with Taxable Income below the threshold may also be required to lodge a return when
•PAYG amounts have been withheld by an employer
•Prior year losses•Carried on a business•Wish to claim an imputation credit