How is my tax affected if I report my spouse on my tax return?
Ans (Tammy from Affinitas)
When you have a spouse, whether you’re married or in a defacto relationship, it is important to tell your tax advisor so their details can be included on your tax return. It doesn’t always effect your tax refund or payable, but it can depending on both your incomes. It could put you into a higher or lower income tier for Medicare surcharge purposes or private health insurance rebates. It can also effect the offsets you are entitled to.
If you are in a higher income tier and your spouse doesn’t have private health insurance, it can mean you will have to pay Medicare surcharge even if you have appropriate cover. Contact your tax advisor to find out whether your spouse will effect your tax return and what you can do to ensure they don’t cost you more tax.
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