pj183600 Posted April 23, 2013 Share Posted April 23, 2013 In need of a bit of advice re how much tax I am paying. This is the first month I have been paid and I was taxed approx 30%. The actual net pay reflects the figures I put in taxcalculator.com.au. E.g. I put in $130000 as anual salary and I was paid the the figure in net pay give or take $5. Am I correct in assuming this is how much I should get paid each month on the above salary? As part of my relocation package they paid me one month's salary a week after I got paid. This was to cover flight costs etc. So in theory I should have been paid the same amount again. Nope I got an amount that was taxed at 43%. Anyone any ideas why I paid more tax? Until today I didn't have a TFN would this explain why? If so I would have thought that I would have paid more tax in the first run... Link to comment Share on other sites More sharing options...
Parley Posted April 23, 2013 Share Posted April 23, 2013 Have you asked HR ? Link to comment Share on other sites More sharing options...
blossom Posted April 23, 2013 Share Posted April 23, 2013 I'm guessing its like in the uk where if you go into the higher tax bracket for that week then you get taxed at that amount. It will even out at tax return time. Definatly check with your hr department though. Link to comment Share on other sites More sharing options...
Quoll Posted April 23, 2013 Share Posted April 23, 2013 I think Blossom is probably right - you went over the threshold for that pay. Ask HR if you are concerned Link to comment Share on other sites More sharing options...
pj183600 Posted April 23, 2013 Author Share Posted April 23, 2013 Thanks everyone..yes you are right they are basing the income on the total month and they are assuming that I will be getting 20K each week. As Blossom said it should even itslef out otherwise I hope I get it back when they do my tax return... Link to comment Share on other sites More sharing options...
blossom Posted April 23, 2013 Share Posted April 23, 2013 Yes, you will get the difference back at tax return time. The only good thing about having to do them lol. Link to comment Share on other sites More sharing options...
Parley Posted April 24, 2013 Share Posted April 24, 2013 Don't be scared to ask HR any questions you have like this. That is what they are there for. Link to comment Share on other sites More sharing options...
Guest Posted April 24, 2013 Share Posted April 24, 2013 no TFN you get taxed at maximum rate if you over paid which seems to be the case you should get it back after July Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.