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Will i receive a tax debt?

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Newbie

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Hi,

I just a have question in regards to accumulating tax debt. I have/had 3 jobs these past 10 months, 2 in which i have claimed the tax free threshold.

First job - Claiming tax free threshold - Main casual job, been there for years, normally dont get alot of pay. Recently got the job keeper which is alot more than what i usually get.

Second job - Claimed tax free threshold - 6 week full-time internship, completed/no longer employed with this company, finished the internship before covid19 situation

Third job - Not claiming tax free threshold, started new casual position recently. 

Prior to receiving jobkeeper allowance and covid19 situation, i predicted i would earn below the tax free threshold of $18,200(hence why i claimed tax free threshold for my internship). In fact, If i wasnt receiving the job keeper, with all 3 jobs i would still be under the threshold by end of financial year. 
However now that i will be receiving job keeper (as this is considered income correct?), i will go over the tax free threshold. And because of this, it'll look like i am claiming from two jobs (even though i am no longer employed to one of them) and going over the tax free threshold. 

So since i was claiming the tax free threshold during my internship will i be charged tax debt because of the increased income (job keeper) from my main casual job? Hope you understand my situation. 

Thanks!

Sarah

1 ACCEPTED SOLUTION

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Most helpful response

Community Support

Replies 0

Hi @Sarahm1,

 

Thanks for reaching out.

 

The amount you are taxed depends on the amount you earned throughout the year. You can view the Individual income tax rates on our website for further information.

 

A simple tax calculator is available to help you calculate the tax on your taxable income.

 

The Income tax estimator gives you an estimate of the amount of your tax refund or debt, and takes into account:

  • the Medicare levy
  • higher education loan scheme repayments
  • tax offsets
  • tax credits.

 

I hope this helps.

1 REPLY 1
Highlighted

Most helpful response

Community Support

Replies 0

Hi @Sarahm1,

 

Thanks for reaching out.

 

The amount you are taxed depends on the amount you earned throughout the year. You can view the Individual income tax rates on our website for further information.

 

A simple tax calculator is available to help you calculate the tax on your taxable income.

 

The Income tax estimator gives you an estimate of the amount of your tax refund or debt, and takes into account:

  • the Medicare levy
  • higher education loan scheme repayments
  • tax offsets
  • tax credits.

 

I hope this helps.