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This calculator on the ATO website helps you to estimate the tax you owe on your taxable income. Note: The simple tax calculator does not include all the compulsory tax payments, such as Medicare, and so will underestimate your obligation. For a more complete estimate, go to the income tax estimator.   Step 1: What you need before you start creating the account You will need a computer or smart phone with internet access. You will also need…

Go to ato.gov.au and search for ‘estimate my super’. Image: Estimate my super calculator homepage that indicates you must enter the full period you intend to estimate super as a first step. It shows that once you have filled in this information, you proceed to the next step by clicking on ‘show quarters’. By putting your information into this tool, you will receive a report listing how much superannuation your employer should have paid you.…

The following instructions detail how you can apply for a tax file number (TFN) at Australia Post. Step 1: Information you need Proof of identity documents, such as: Birth certificate Australian passport Australian Citizen certificate Australian drivers licence or Learner’s permit. For more information, on what documents you need to prove your identity, go to proof of identity documents. Step 2: Complete the online TFN application form…

Tiered pricing and percentage systems Businesses which involve sales (selling of products) may wish to add incentives/rewards for those sales agents and/or customers who sell or purchase more products. For example: A product supplier (i.e. seller) may decrease the price per unit/item for those customers who purchase more units. Companies with sales agents, such as Real Estate, Cars and Advertising, may want to treat their sales agents who…

Image: Table showing hourly rates of pay for permanent retail employees. Level 3 is highlighted and shows that the Base Hourly Rates for permanent employees is $15.43. The rate for Monday to Friday after 6pm is $18.91. The Sunday rate is $27.23 and the Public holiday rate is $34.04. https://www.retailwages.com.au/# Example 1: How to calculate wages and overtime I’m a retail employee level 3. I’m permanent and I work 35 hours each week, but…

When you are employed, it’s important you understand your rights in relation to tax and super. Some employers pay their workers cash-in-hand rather than into a bank account. There is nothing wrong with being paid in cash as long as your employer reports the payment as income. Some employers deliberately use cash transactions to avoid meeting their tax and employee responsibilities, which is a crime. It threatens the revenue our government uses…

An Aesop Fable There was once a Countryman who possessed the most wonderful Goose you can imagine, for every day when he visited the nest, the Goose had laid a beautiful, glittering, golden egg. The Countryman took the eggs to market and soon began to get rich. But it was not long before he grew impatient with the Goose because she gave him only a single golden egg a day. He was not getting rich fast enough. Then one day, after he had…

An Aesop Fable A Dog asleep in a manger filled with hay, was awakened by the Cattle, which came in tired and hungry from working in the field. But the Dog would not let them get near the manger, and snarled and snapped as if it were filled with the best of meat and bones, all for himself. The Cattle looked at the Dog in disgust. "How selfish he is!" said one. "He cannot eat the hay and yet he will not let us eat it who are so hungry for it…