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Hello, for the last finincial year I have been part time employed on wages and have worked part time as 'self employed' (sole trader). I am trying to work out how much tax I will be up for with my self employed income. Looking at ATO guides for self employed it says there is no tax for the first $0-$18,200. Will this still apply to me as I would be claiming the tax free threshold from my wages job (i've been working there for two years). I will have made over $18,200 so will be in the next bracket.
Does my wages income affect what tax I will have to pay on my self employed income in any way? Or will they be dealt with separately?
Thank you in advance
The tax-free threshold applies to ALL sources of income, not individually.
You are taxed on your total taxable income.
The tax-free threshold applies to ALL sources of income, not individually.
You are taxed on your total taxable income.
Thank you ![]()
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