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Re: How much tax do i pay on a second job

Newbie

Replies 0

I think this depends on your savings goals and what you can get away with. If you enjoy the shorter term cash flow of paying less as you go (PAYG), can get away with it and have enough of an opportunity to earn some additional returns with it or invest it wisely, then go ahead and do it. If you have problems saving this money to pay your taxes at the EOFY, then consider it a “compulsory savings account” with the ATO by paying more as you go.

Newbie

Replies 0

In my view every Taxpayer should be aware of the tax rates and thresholds.

 

The main threshold is $87,000.

Between $37,000 and $87,000, the tax rate is 32.5% plus Medicare.