Question: what is the difference between a tax offset and a tax rebate?
Answer: OFFSET VS DEDUCTION. A deduction reduces your taxable income, whereas a tax offset (sometimes referred to as a rebate) directly reduces the amount of tax payable on your income. For example, tax payable on an income of $110k is $30,297. ... A $1k offset, however, reduces the amount of tax payable by the full $1k.