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The New Daily
The New Daily
Business
Matthew Elmas

$700 tax break for low earners may lift returns

ATO Tim Loh

We’re now less than two weeks from the end of financial year (EOFY), and while tax office changes will mean returns are likely to be smaller in 2023-24, there are still sweeteners.

The low- and middle-income tax offset (LMITO), which was responsible for big returns during the COVID-19 years, has expired.

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