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  1. #11
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    Default Re: Tax on paid parental leave?

    Centrelink recommends you ask for a higher tax rate so that you're not slugged at the end of the financial year.

  2. #12
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    Default Tax on paid parental leave?

    Your tax liability is based on the entire financial year, not how much you earned at any given time within that year.

    So while you might be earning the minimum wage for a period, unless your job is also paid at minimum wage you run the risk of being over the threshold for a particular rate.

    What matters is the end of year figure, not random fortnights.

    So say you made $50k over the course of the year that is your taxable income - whether that is made up of one payment of $50k, a regular fortnightly payment or varying fortnightly or weekly or monthly payments.

  3. #13
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    Quote Originally Posted by missie_mack View Post
    If Centrelink pay it they don't give you the tax free threshold, I found with mine
    I have heard that a few times now! So crap, I really don't understand why they wouldn't? It's not like your not entitled to it (unless your actually not entitled for what ever reason)

    I'm lucky I work for family, so they were more then happy to set themselves up to pay it.

  4. #14
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    Default Re: Tax on paid parental leave?

    Ok I get the tax thing now I didn't know thats how it worked but I guess that makes sense.
    Tax free threshold - it can only be claimed once a financial year so if your claiming it from your employer you wouldn't be able to claim it through centrelink

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