The ATO has updated its document titled ‘When you have income from two payers’ reminding taxpayers who receive income from two employers that they are entitled to claim the tax-free threshold for more than one payer at the same time.
This update by the ATO reflects the increase in the tax-free threshold from $6,000 to $18,200 from 1 July 2012. However, the ATO has made it clear that taxpayers considering this strategy must be certain that their taxable income for the year in question will be no more than $18,200.
- Overtime Meal Allowance Amounts
- Cents per km deduction rate for motor vehicle expenses
- The 'sharing economy' in the ATO's sights
- Tax time is prime time for scams
- ATO warns about iTunes scammers
- ATO reminder about 30 June SuperStream deadline
- New Simpler BAS on the way
- ATO's continuing focus on trust property developers
- SMSFs and Collectables – last opportunity to comply!
- Contractor payments data matching program