Second Job Tax Calculator
This includes the 2% Medicare Levy.
Excluded are an other government payments such as levies and tax offsets etc.
You can add any sole trader business income or centelink payments as a second job or include another job for centrelink payments.
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*The 2023-2024 calculations are based forecasted 2024 budget predictions.
Using Our Second Job Tax Calculator
Our second job tax calculator allows you to work out your overall tax position for the financial year. Add in your first job details and then continue to add in additional jobs as required. You can add in your Centrelink if this is applicable to and any sole trader income.
Use the One Click Life tax on second job calculator by following these simple steps:
To calculate your second job tax rate, enter the gross annual income you are expected to earn from your first and second job separately. You can approximate your yearly income by extending the year-to-date pay on your payslips over an entire year.
For example, in one job if you earned $15,000 up to September 30th, you can divide this by 3 months to work out how much you have earned monthly and multiply this by 12 months to account for the whole year.
$15,000 / 3 months x 12 months = $60,000.
In this example, you would enter $60,000 into the first income slot. Repeat the process for your second job.
Enter the tax withheld from both of your jobs into the Second Job Tax Calculator. The income and tax withheld can be found on your payslips in the year-to-date column. Make sure when you take the year-to-date tax withheld and extend it over a full year to approximate your tax for the year.
For example, by September 30th, you have had $3,000 withheld. Divide this by 3 months and multiply by 12 months to calculate your estimated tax withheld for the full year.
$3,000 / 3 months x 12 months = $12,000.
Based on the example, you would enter $12,000 into the tax withheld section of the Second Job Tax Calculator. Repeat the process for your second job.
The last step to calculate your tax rate on second job income is to enter your tax deductions.
The ATO recognises expenses as individual tax deductions if they meet 3 criteria.
- The expense must be work-related
- You must have paid for it out of your own pocket, and not be reimbursed
- You must provide evidence
Add your tax deductions for the current tax year to the Second Job Tax Calculator, then estimate your projected spending for the rest of the financial year through June 30.
For example, you may have the following deductions:
- Work-related uniform expense: $170
- Picking up supplies for work: 500km x $0.85 = $425
- Tax return from One Click Life: $99
- Work use of mobile phone: $180 ($60 per month x 25% of phone bills x 12 months)
Total deductions = $874
Repeat the process and calculate the expenses for your second job. Enter this information into the tax deductions section of the tax on second job calculator to estimate your tax refund for the year. It is as easy as that! Our calculator provides insight into the second job tax rate and how it affects your tax return.