2nd job and tax (1 Viewer)

[rantman]

If you have 2 jobs, is the income you get from the 2nd job taxed at the top tax rate (~45%)?

 

[turtleface]

No, unless 1. you do not declare a TFN
or 2. you earn more than the highest tax threshold annually

(assuming you're a aus resident)

 

[townie]

yeah, but dont they withhold tax at the top rate, but u just get it back later??

 

[rantman]

Ok I get it now thanks.

 

[townie]

http://www.ato.gov.au/individuals/content.asp?doc=/content/23070.htm

 

[Excalibur_]

You have a set amount of tax withheld from you based on how much you earn a week. There are separate tables for those claiming the tax-free threshold and those who are not.

You can only claim the threshold from one employer.

At the end of the day, you will only be taxed based on your total overall income. If you were overtaxed on average, you get a refund...but I think you knew that.