In Australia, you generally do not need to include your child's income on your tax return. Each individual, including children, is responsible for lodging their own tax return if they have taxable income.
1. Children's Income: If your child has income from a job, investments, or other sources exceeding the tax-free threshold ($18,200 per year as of 1 July 2022), they are required to lodge their own tax return.
2. Parental Responsibilities: As a parent, you are responsible for ensuring your child's tax obligations are met, but their income is not combined with yours on your tax return.
3. Exceptions: There are specific circumstances, such as interest income above a certain threshold from money given by a parent, where special tax rules may apply. These are less common and typically relate to specific financial arrangements.
If your child needs to lodge a tax return, they can do so online through the Australian Taxation Office (ATO) website or seek assistance from a registered tax agent if necessary. It's important to ensure they comply with tax obligations to avoid penalties and maintain good financial practices.