2007-02-20 12:45:16 · 4 answers · asked by Stigmeister 2 in Business & Finance ➔ Taxes ➔ Australia
If your employer was deducting 'pay as you go' tax as if you were a full time worker (i.e. over 12 months) then its possible that you may be due back some extra. Its not hard to work out, take what you have earned, deduct the basic allowance and calculate about a third of whats left. Thats very approximately the tax due (unless you found a very well paying job that puts you into higher marginal rates that is).
2007-02-21 09:33:56 · answer #1 · answered by Ranjeeh D 5 · 0⤊ 1⤋
No.... and you may actually think your paying more!
Tax is based on income level and whether you earn 20,000 over 6 months or over a year doesn't matter you will still be paying the same rate of tax.
However.. if you earn the 20,000 over 6 months instead of a year it means that you are on a higher salary (equivalent of a $40,000 per annum income) and PAYG deductions (which are based on an annual income) would end up being higher than the PAYG deducted on the same total income earned that was earned over a longer period.
2007-02-21 09:56:00 · answer #2 · answered by magpiez 5 · 0⤊ 0⤋
No because your taxes will be adjusted to your income.
2007-02-20 20:54:02 · answer #3 · answered by B. Gregory 2 · 1⤊ 0⤋
No because you haven't paid in as much.
2007-02-20 20:55:07 · answer #4 · answered by Anonymous · 0⤊ 0⤋