After a few years of work raising a family my partner is about to return to work part time, and will be earning a small income (maybe $25k) to support our family. I am currently earning $95K and with this as our sole income, we have received family tax benefit payments from Centrelink. With a new combined income of $120K, I know our Centrelink payments will cease, but I was wondering how will tax be calculated? It's been a while since we had two incomes and I am wondering what to expect in our pockets for expenses each fortnight. Any advice would be greatly appreciated!
Ok excellent, thanks! I think I am getting multiple Government agencies confused, seeing as I access them all on MyGov. So we both are still quite low income earners and won't get taxed more when grouped together - great to know.