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Second job- withholding declaration amount

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Hi all!

My friend has two jobs. The first job earnings are approx $2300/fortnight give/take penalties.
The second job is casual.
She is likely to fall into the $37,000-$90,000 taxable income bracket but depending on her shifts may earn >$90,000.

I understand she should complete an upward variation- withholding declaration form for her second casual job and perhaps nominate 37% to be on the safe side in case she falls in the higher bracket. My question is , should she also elect to have this on her first (primary) job to avoid a bill at tax time?

Thankyou for your help!!!
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Hi @Shaunamacka,

 

We can't say for sure what is the best option for her without knowing all of her personal circumstances.

 

If she is concerned about getting a tax bill at tax time then it would be better for her to opt for more tax to be withheld with an upward variation from both jobs. If she ends up getting too much withheld then it will all be returned to her when she lodges her return.

 

We have a tax withheld calculator that she could use throughout the year to check if too much / too little is being withheld and she could adjust as necessary.

 

Hope this helps! Thanks, NateH

1 REPLY 1

Best answer

ATO Certified

Community Support

Replies 0

Hi @Shaunamacka,

 

We can't say for sure what is the best option for her without knowing all of her personal circumstances.

 

If she is concerned about getting a tax bill at tax time then it would be better for her to opt for more tax to be withheld with an upward variation from both jobs. If she ends up getting too much withheld then it will all be returned to her when she lodges her return.

 

We have a tax withheld calculator that she could use throughout the year to check if too much / too little is being withheld and she could adjust as necessary.

 

Hope this helps! Thanks, NateH

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