Income from More than One Job

If you have income from more than two jobs or taxpayers have permanent part time jobs and also receive government pension as well as allowances., you are only entitled to claim a tax free threshold of one job. The tax free threshold means taxpayers no need to pay any tax amount. 

If taxpayers have more than one payer at the same time so you can only claim a tax free threshold.

By ATO guidelines the tax free threshold is $18,200 and in case of if you are australian resident for tax purposes so you don’t need to pay tax on your yearly income that means that the first $18,200 is tax free for taxpayers. You can also claim tax withheld to reduce your tax liability.

If you earn $350 a week or $700 a fortnight or $1,517 a month is all the same as $18,200 tax free threshold means you don’t need to pay tax.

Whenever your income will be increased than the tax free threshold, the tax liability would be increased and you may pay to the ATO as your liability.

For more information on online tax return 2020, Tax Return 2020, myGov 2020, myTax 2020 or any other tax related matter, please call our professional accountant on 1300 768 284 or you can email us at enquiry@taxrefundonspot.com.au