Tax agents are warning workers to be prepared for a tax debt if they’re earning a wage from two or more employers and haven’t made the correct tax declaration. The number of Australians who hold two jobs has increased since coronavirus restrictions eased and cost of living pressures increased. The Australian Bureau of Statistics reported in March 2024 that 6.7 per cent of employed Australians have multiple jobs, an increase of 1.3 per cent from December 2023.
An employer would withhold tax when you earnt above $350 per week, $700 per fortnight or $1,517 per month, the Australian Tax Office said. Perks Accountants and Wealth Advisers director of taxation, Neil Oakes, says going off the threshold means an employer is withholding tax at a higher rate. He says regardless of whether you work the equivalent of full-time or part-time hours between two or more workplaces, you need to opt out of the threshold.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Jerry Seinfeld opens up on time in Australia in exclusive 7NEWS interview amid heckler-plagued tour7NEWS brings you the latest local news from Australia and around the world. Stay up to date with all of the breaking sport, politics, entertainment, finance, weather and business headlines. Today's news, live updates & all the latest breaking stories from 7NEWS.
Source: 7NewsSydney - 🏆 16. / 63 Read more »
Jerry Seinfeld opens up on time in Australia in exclusive 7NEWS interview amid heckler-plagued tour7NEWS brings you the latest local news from Australia and around the world. Stay up to date with all of the breaking sport, politics, entertainment, finance, weather and business headlines. Today's news, live updates & all the latest breaking stories from 7NEWS.
Source: 7NewsSydney - 🏆 16. / 63 Read more »
Adelaide couple assaulted at Fremont Park dog park in Elizabeth7NEWS brings you the latest local news from Australia and around the world. Stay up to date with all of the breaking sport, politics, entertainment, finance, weather and business headlines. Today's news, live updates & all the latest breaking stories from 7NEWS.
Source: 7NewsSydney - 🏆 16. / 63 Read more »
Future of Richmond premiership hero Dylan Grimes in doubt after cruel injury blow7NEWS brings you the latest local news from Australia and around the world. Stay up to date with all of the breaking sport, politics, entertainment, finance, weather and business headlines. Today's news, live updates & all the latest breaking stories from 7NEWS.
Source: 7NewsSydney - 🏆 16. / 63 Read more »
Best electric-powered rug for wintertime: Plush double-sided flannel provides all day comfort7NEWS brings you the latest local news from Australia and around the world. Stay up to date with all of the breaking sport, politics, entertainment, finance, weather and business headlines. Today's news, live updates & all the latest breaking stories from 7NEWS.
Source: 7NewsSydney - 🏆 16. / 63 Read more »