Cotton On and Tax Threshold (1 Viewer)

[ms05]

A few weeks ago, I was accepted into Cotton On as a Christmas Casual.

Once I was accepted, they gave me a general form to fill in (name, address, BSB and TFN etc). As it was my first job, I claimed the tax free threshold upon that form (it was not, however, a TFN declaration form).

A week or 2 later, I was also able to find work at a supermarket & when I had to fill in my TFN declaration form for that place, I ticked "no" to claim the tax free threshold, as that position would inevitably be considered as my second job.

However, Cotton On hasn't contacted/informed me at all about induction or work shifts and so forth. In addition, I have contacted them via email about this issue but they have not given me a response.

Since I haven't even filled out a TFN declaration form for Cotton On (let alone work for them), would I be able to claim the tax free threshold at that supermarket store?

 

[tbohlsennswssrg]

A few weeks ago, I was accepted into Cotton On as a Christmas Casual.

Once I was accepted, they gave me a general form to fill in (name, address, BSB and TFN etc). As it was my first job, I claimed the tax free threshold upon that form (it was not, however, a TFN declaration form).

A week or 2 later, I was also able to find work at a supermarket & when I had to fill in my TFN declaration form for that place, I ticked "no" to claim the tax free threshold, as that position would inevitably be considered as my second job.

However, Cotton On hasn't contacted/informed me at all about induction or work shifts and so forth. In addition, I have contacted them via email about this issue but they have not given me a response.

Since I haven't even filled out a TFN declaration form for Cotton On (let alone work for them), would I be able to claim the tax free threshold at that supermarket store?

What if you have more than one payer?

You cannot claim the tax-free threshold from more than one payer at a time. If you do, it will result in you not paying enough tax for the income year. This may result in a large tax bill when you lodge your tax return.
If you have more than one payer, you need to choose which one to claim the tax-free threshold from. Generally, it is best to claim the threshold from the payer who pays you the most.
You have more than one payer if:

• you have a part-time job and also receive Centrelink payments, or
• you have two (or more) jobs.

Once you have selected the payer you want to claim the tax-free threshold from, print X in the No box at question 8 with your other payers.
If your circumstances change, you can fill out new Tax file number declarations to ensure you continue to claim the tax-free threshold from the payer who pays you the most. However you must always make certain that you are not claiming the tax-free threshold from more than one payer at a time otherwise you may end up with a tax debt at the end of the income year.


Source: How to claim the tax-free threshold

 

[Grissom]

Can they actually stop you from claiming the tax free threshold from more than one job? As long as you pay your tax bill all should be sweet, right? I figure that moneys better off accumulating interest in my account rather than someone elses.

 

[seremify007]

You may get penalised I suppose because it means that your employers have not collected enough (or witheld sufficient) amounts of tax.... and last thing you want is a black mark on your name at the ATO in case they decide to audit you every year or something. On another note, even if they don't penalise you, if you do end up having to pay a large tax bill at the end of the year, they may put you on the quarterly tax instalments system which is even worse.

I think if you are really not getting any shits at Cotton On, then update the details and switch to the Tax Free Threshold status but honestly, I doubt it's going to be that much $$ and besides, it's a good way of forced savings if and when you get a refund.