Tax File Number Application In Australia

Question: Tax File Number – Victoria, Australia?!?!?!?

We put in our tax file number application forms at school on Friday and they said it could take a few months till we actually get our numbers.

I was just wondering whether you are able to get a part time job before you get the number?

Thanks heaps! =]

Answer: A couple of things…
1. Because you’re under 18, your employer will not have to withhold any amounts from your pay if they are not more than $112 (if you’re paid weekly), $225 (if you’re paid fortnightly) or $489 (if you’re paid monthly). If this is the case, whether you have a tax file number or not is irrelevant.
2. If your payments are likely to be over these amounts, your employer has a ‘grace’ period of 28 days (the time it normally takes to process your tax file number) in which they don’t have to withhold tax from your pay at the highest marginal tax rate (46.5%), if you indicate on your tax file number declaration form that you have applied for a tax file number. After this period, if you haven’t supplied your tax file number your employer must withhold tax at 46.5% from your pay (but you will probably get this back at the end of the year anyway).

Hope that makes sense.

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