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Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15185
Experience:  15years with H & R Block. Divisional leader, Instructor
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As a retiree aged 65 how much tax will I have to pay on income

Customer Question

As a retiree aged 65 how much tax will I have to pay on income derived from non super sources eg rent from property and interest on deposits?
I have no income from super.
Submitted: 2 years ago.
Category: Tax
Expert:  Robin D. replied 2 years ago.
Hello and thank you for allowing me to assist you today.
If you’re Age Pension age (currently age 65) or older, you have more generous tax-free thresholds, known as the Seniors and Pensioners Tax Offset (SAPTO). If you’re single, you can earn up to $32,279 in the 2014/2015 year (or for the 2013/2014 year, or for the 2012/2013 year) in non-super income without paying a cent of tax because of the application of SAPTO and LITO (low income tax offset).