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Ashkeroth(Initiate)Initiate
4 May 2022

Hi,


I work in the retail in which I usually get pay on my wage per hour as a casual. That I am aware is taxable income that needs to be declared. Tax is withdrawn from my payslip.


A bit earlier last month, my retail company decided to issue and pay me few extra money

They were titled "EAR Interest AT" and "Laundry Allowance Non-tax". The total amounts to 9.34 AUD and falls under "After Tax Payments"


Do I need to declare that amount even if it is said "after tax payments"? Do I simply add that on top of my Gross Income from my retail work?


I am also not sure if this 9.34 AUD is related to FBT...


Thanks for your help.


Regards,


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1,227 views
2 replies

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Most helpful replyATO Certified Response

BlakeATO(Community Support)Community Support
ATO Certified Response5 May 2022

Hi @Ashkeroth


It'll be best to clarify with your employer what the EAR interest AT is related to. It'll be taxable income, but where and how you report it on your tax return will depend on what it's for. Effective annual interest rates (EAR) are used in corporate terminology for loans, usually. So if you've received a payment for it, it might be interest for something like backpay.


Your laundry allowance is taxable; however, depending on the type of laundry expenses, the cost of doing laundry on your work clothes is deductible. So rather than "non-taxable", a better word for it would be "deductible" or "no withholding applies".


You can read about withholding on laundry expenses and laundry deductions on our website.

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Most helpful replyATO Certified Response

BlakeATO(Community Support)Community Support
ATO Certified Response5 May 2022

Hi @Ashkeroth


It'll be best to clarify with your employer what the EAR interest AT is related to. It'll be taxable income, but where and how you report it on your tax return will depend on what it's for. Effective annual interest rates (EAR) are used in corporate terminology for loans, usually. So if you've received a payment for it, it might be interest for something like backpay.


Your laundry allowance is taxable; however, depending on the type of laundry expenses, the cost of doing laundry on your work clothes is deductible. So rather than "non-taxable", a better word for it would be "deductible" or "no withholding applies".


You can read about withholding on laundry expenses and laundry deductions on our website.

Ashkeroth(Initiate)Initiate
12 July 2022

Hi BlakeATO;


Apology for long reply delay. I appreciate your help and have reached out to my employee for their response. I will update this when I get an answer from them.


Regards,

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How do I treat after-tax payments - should I include in taxable income? | ATO Community