If you are an older, working Australian, your tax refund this year may be smaller than it was in the 2014 financial year. 

Previously, a person born before 1 July 1957 was able to claim a tax offset of up to $500 against the tax payable on income generated from working. This policy was originally designed to encourage the baby boomer generation to keep working longer.

There are still a number of generous tax breaks around the superannuation system which older Australians may be able to take advantage of in order to legally minimise their tax. This can be a muddy area for people to understand, which is why it is very important to get advice from a professional in this area. You can contact our office on 07 5482 2855 to make an appointment to speak with our experienced staff around this issue, and look for ways to take advantage of the tax breaks that may be applicable to you.