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02 Jun 066 Don’t forget SATO

The ATO says if you have clients who qualify for the senior Australians tax offset (SATO), make sure they claim it in their tax returns because it can be worth up to $2,230 in tax offsets. Clients who are eligible for both SATO and the pension tax offset should claim SATO only (by completing label T2 rather than T3 on their tax return) as they will receive a greater offset. And if an eligible client has a spouse, make sure you include all spouse details on the tax return as their spouse may be eligible to receive any unused portion of SATO.

For more information, go here and here

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