Have I been over paid? Or is this correct. Confused

[beautifullycreated]

@thelostcoin Check with your pay office. Maybe they stuffed up, maybe they overpaid you and next payday will be bugger all

 

[10trouble13]

@beautifullycreated Yes check also they taking enough tax so you don’t get a nasty surprise

 

[alaskazimm]

@thelostcoin Your taxable income:$3,692

Income tax payable:$833

Medicare levy payable:$74

Your income after tax & Medicare levy:$2,785

https://moneysmart.gov.au/work-and-tax/income-tax-calculator#!focus=1

 

[thelostcoin]

@alaskazimm So, I’ve been over paid?

 

[zandy12]

@thelostcoin You might want to check with payroll if some of your pay is in advance.

I once had a role where I was paid monthly on the 18th of the month, but for the whole month e.g paid on 18th October for the 1st to 31st October. Any sick leave/unpaid leave would be deducted from the next month's pay.

 

[alaskazimm]

@zandy12 Check with payroll is the only answer.

Depending on the school, admin may be worse than useless with incorrect info. Hopefully you can speak to a payroll specialist who can give you exact calculations.

 

[selali]

@thelostcoin My bet is that you are paid in 3 weeks in arrears and 1 in advance - not an unusual practice. Your Visa has no effect on your tax, as long as you have a tfn (if you have no tfn you be taxed at the emergency rate) you’ll be taxed at the correct rate as a PAYE employee.

 

[lucylew]

@thelostcoin Just go ask payroll . There will be an explanation.

 

[apocalypes7]

@thelostcoin Are you an employee or a contractor?

If you're a contractor they aren't withholding any tax. If this is the case you will need to complete a tax return and declare your income at the end of the financial year and pay tax in a lump sum once you receive your statement of assessment from the ATO.

 

[stacey34]

@thelostcoin If you’re on 96k a year, and I think I read that you DON’T get paid over holidays, 12 weeks I think?, would you not minus those 12 (6 pays) from the 26 fortnight’s making it 20 pays (96k / 20 = $4800 before tax or $3500 a fn after tax)

Could that be how they’re doing it?

 

[angelsanon]

@thelostcoin Yep it seems correct, both your fortnightly gross pay and the tax amount you listed.

 

[jennyjones]

@thelostcoin https://www.ato.gov.au/Calculators-and-tools/Host/?anchor=TWC&anchor=TWC/questions#TWC/questions

 

[tom94567]

@thelostcoin Dont be fooled. The amount seems quite large. But once you factor in COL, even 4k a week is below the poverty line.

 

[luvj]

@thelostcoin Maybe, if they use a system, they considered you mistakenly as higher level than your current one.

 

[smachen]

@thelostcoin Have you provided your tax file number. Have you claimed the tax free threshold, have you provided superannuation details?

They appear to not have deducted income tax from the amoint.

 

[cooldude12344]

@thelostcoin Ask your business manager. They know everything.

 

[redeemed14]

@thelostcoin You may have started working 2 or 3 days before the the last payroll and they probably didn't have time to process it. Your $3475 could include 2 weeks plus the 2 or 3 days from the previous pay period.

 

[tinora]

@thelostcoin might be pre tax boss

 

[munni19]

@thelostcoin If you are doing contracting, you might be getting paid in full amount, pre-tax. And you will have time to pay taxes on the income at the end of the financial year. Best to check with HR/Payroll team.

 

[zxc123]

@thelostcoin If you haven't worked the whole two week period you were paid for its likely that the tax department taxed you under the assumption that this will be your regular fortnightly pay therefore giving a lower tax rate than you would be paying for working a full fortnight. I recently started a new role and came in mid fortnight and got almost no tax on the total and that was why. Your next pay for the full fortnight of work will likely have the higher tax rate.