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Income tax rate issues

Newbie

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I work a casual job in a warehouse normally 4 days a week. I pay roughly 30% tax every fornight even though I earn nowhere near enough to warrant such a rate. My annual tax return has been over $5000 for the last 3 years which has its ups and downs.

 

I am currently studying at Uni and could really use the money throughout the year rather than in 1 lump sum. So far this year I have already paid more tax than I have had to pay in previous years and should have a few hundred coming back around tax time.

 

My question is: am I able to request that income tax is no longer automatically taken from my pay? If by some miricle I owe the ATO in July I will be able to fix that then. I've spoken to my supervisors in the past and they have asked about reducing my income tax rate which is apparently illegal?? So I am wondering whether I can request to manage my own tax affairs altogether removing the company. Any help will be appreciated. Cheers.

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Best answer

Devotee

Replies 0

Hi

 

You can apply to have the rate of tax taken out changed to reflect your specific circumstances.  See the attached link where you need to give the ATO details of your situation now and expected for the balance of the year and the ATO can advise your employer of a more suitable rate.

 

https://www.ato.gov.au/Business/PAYG-withholding/Payments-you-need-to-withhold-from/Payments-to-empl...

 

This is my personal view; I’m an ATO employee who chooses to help out here in my own time

2 REPLIES 2
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Best answer

Devotee

Replies 0

Hi

 

You can apply to have the rate of tax taken out changed to reflect your specific circumstances.  See the attached link where you need to give the ATO details of your situation now and expected for the balance of the year and the ATO can advise your employer of a more suitable rate.

 

https://www.ato.gov.au/Business/PAYG-withholding/Payments-you-need-to-withhold-from/Payments-to-empl...

 

This is my personal view; I’m an ATO employee who chooses to help out here in my own time

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Community Manager

Replies 0

 

Hi @Zak97,

 

You can use this tax table to check that you are being taxed correctly. If this is your only income or you largest income you should have selected to claim the tax free threshold with this employer.

 

If you have not claimed the tax free threshold with the correct employer you can use the link that @Mark1 has provided to correct his.

 

Thanks

 

KylieS