Starting from 1 July 2014, most taxpayers will receive a tax receipt as part of their Notice of Assessment. The tax receipt shows a breakdown of how your tax has contributed towards government expenditure. It will also show the level of Australian Government gross debt for this year and last year.
You are eligible to receive a tax receipt for the 2013-14 year if:
- You paid $100 or more of income tax in the 2013-14 tax year
- You lodged your tax return within 18 months from the end of the financial year (30 June 2014)
You can read more about the new tax receipt on the ATO website (click here).