Changes to Income Under $9,880 Tax Credit
Grange Associates Ltd - 28 May 2012
Budget 2012 repeals the Income Under $9,880 Tax Credit, effective from
the 2013 tax year.
Employees currently on a “ML” or “M SL” tax code can continue to use
that code (and thus receive the credit) up until 31 March 2013. After that date they will have to use
another tax code, such as “M” or “M SL”. There is no requirement for these people to file a tax return
or request a personal tax summary solely for having received the credits during the year, however, if they do
file a return or request a summary they may be assessed as having tax to pay.
For those who usually claim the tax credit in their end of year tax
return, they can still make a claim for the 2012 tax year, but not any future
All information is correct at the date of article
publication. Please note we provide the information as a service only. Accordingly, the contents are
not intended as a substitute for specific professional advice and should not be relied upon for that
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