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Re: What would my tax situation look like with one FT and casual job

Newbie

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I'm currently working FT in my current company but have been offered a better job also full time somewhere else. I love my current job and plan to go down to casual (5 hours a month) and still retain that connection.

I'm from NZ and heard that your second job would be taxed at nearly 50%, if that is true are you able to choose what job would be taxed at that rate? Or would that automatically apply to the new job I am embarking on? I don't want my new job to taxed that high so just seeing if it's worth it financially going down to casual.

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Devotee

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You mention that you are from NZ. I assume this means you are a tax resident of NZ. I'm also inferring that you current employers are based in Australia. The withholding is not subject to Australian WHT rules but rather NZ WHT rules. 

 

An interesting read here. Regardless it should be a wash in your tax return since all salary and wages income forms part of your assessable income (both in Australian and NZ), you then pay tax based on the bracket youre in.

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Most helpful response

Devotee

Replies 0

You mention that you are from NZ. I assume this means you are a tax resident of NZ. I'm also inferring that you current employers are based in Australia. The withholding is not subject to Australian WHT rules but rather NZ WHT rules. 

 

An interesting read here. Regardless it should be a wash in your tax return since all salary and wages income forms part of your assessable income (both in Australian and NZ), you then pay tax based on the bracket youre in.