Tax Blogs

What is rebate income?

May 27, 2021

Rebate income for tax

Rebate income is made up of the total of all the following details from your tax return.

  • Taxable income (if a loss then zero)

  • Reportable employer superannuation contributions (total of RESC from your payment summary’s)

  • Deductible personal superannuation contributions (The deduction you claimed for extra personal super contributions – not salary sacrificed)

  • Net financial investment loss (total loss from all investments other than rental properties)

  • Net rental property loss (total loss from all rental property investments)

  • Adjusted fringe benefits total (made up of following)

    • If your employer is exempt from FBT – Your reportable employer fringe benefit (RFBA) multiplied by .53 rounded down to the nearest dollar (total of RFBA from your payment summary’s – will have an X next to it to signify the exemption status)

    • If your employer is not exempt from FBT – Your total reportable employer fringe benefit amount (Total of RFBA from your payment summary’s)


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Note that the information provided is general in nature and subject to change, please contact one of our professionals who can evaluate your circumstances and provide more accurate advice to your current situation.


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