4E. Understanding tax

Est. read time: 3 min

Income tax is compulsory and must be paid in accordance with your tax bracket (based on your income). Usually, an employer will pay income tax as you get paid and declare your earnings to the Australian Taxation Office (ATO) at the end of the financial year (1 July to 30 June). You must also declare any additional income, including wages, interest, dividends, or rent paid to you when you lodge your tax return.

Paying taxes

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