Can't get thru to the ATO so thought I'd try here!!
My hubby and I want to open a joint savings account.Obviously we will earn interest on the money there but,as I don't work,can I use my tax threshold so that we don't pay any interest on the first $6000 interest? I think that's what my tax limit is? or,would the account have to be in my name only?
Thanks,Denise

G'day

If both names are on the account, then the tax liability will be shared equally between you. As you will be on the lower tax rate, it makes sense to just have your name on the savings account.

Do you have children? Your Family Tax Benefit Part B entitlement will be affected by your income, and your Family Tax Benefit Part A is affected by total Family income. The question about whos name to have on the savings account may not be as simple as you first thought.

Just to complicate things a little more, what is or will be your residency status and visa class? These things too will affect your tax situation.

Cheers
Bob in Bull Creek