I need some help to work out how much tax to pay on my parenting payment single. I work permanent part time and earn 46400 gross a year. I get $8893 from Centrelink parenting payment single I’ve just found out I’m supposed to pay tax on this but no one has been helpful about how much I’m supposed to pay. I called both Centrelink and they said ask ato so I went and asked the ato and they directed me back to Centrelink. So does anyone know how much tax I’m supposed to pay?
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No one will really know until you have prepared a tax return with all your income and deductions. Suffice to say an individual on parenting payment single is eligible for SAPTO. However the higher your total income the lower your SAPTO (pensioner tax offset). On your level of income I would suggest you will receive probably none or very little SAPTO. There is a calculator below you can use to work out your offset entitlement.
Seniors and pensioners tax offset | Australian Taxation Office
The tax rate for income over $45,000 is 30c in the dollar. Expect to pay this much on your pension.
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