Glossary beginning with Y

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Youth Allowance search for term

An Australian Government payment to a young person who is undertaking study, training or an apprenticeship, is sick or is looking for work.

  • Fact 25

    The first computers used by the ATO were used primarily for issuing the five million refund cheques sent out each year in the mid 1960s.

Tax-free threshold

Individuals who are Australian residents for taxation purposes pay no tax on the first $18,200 taxable income for the full financial year. This is called the tax-free threshold. They may claim the tax-free threshold from one employer only. Non-residents cannot claim the tax-free threshold.

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