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Have questions about the low and middle income tax offset (LMITO)? You’re not alone. We know a lot of you are interested, so Assistant Commissioner Karen Foat sat down for a quick chat and answered some common questions. It’s important to remember that LMITO is used to reduce tax payable on your income, and is not a refund on its own. The amount of LMITO you may be entitled to will differ depending on individual circumstances, such as your taxable income and how much tax you have paid. Find more
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