I work part time at two jobs and my income was around $60k for the year. When preparing my tax return, with no deductions, I was sitting at $3k payable (including $1k HECS) with just salary and wage income (and minimal interest). I have claimed the tax free threshold correctly (only with one employer), and can't work out why I have to pay so much. Shouldn't I get withheld enough to be in a refundable position or have a net of $nil refundable/payable???
It is always difficult to get any sort of refund when you have 2 jobs or more. It is recommended that you don't claim the tax-free threshold on the job that pays the most. If you claim the tax-free threshold on the higher income job you will invariably have a tax payable.
There are scenarios where you don't claim the tax-free threshold on both jobs and still have a tax payable.
It is always difficult to get any sort of refund when you have 2 jobs or more. It is recommended that you don't claim the tax-free threshold on the job that pays the most. If you claim the tax-free threshold on the higher income job you will invariably have a tax payable.
There are scenarios where you don't claim the tax-free threshold on both jobs and still have a tax payable.
22 Apr 2024 · 6 min read time
15 Apr 2026 · 5 min read time
15 Apr 2026 · 4 min read time
236 views
1 replies