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Paying tax on a payment

blacksonrise by blacksonrise
June 29, 2020
in Uncategorized
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Paying tax on a payment
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Some of the payments we pay you are taxable. This means you may need to pay tax on them to avoid a tax debt with the Australian Taxation Office (ATO) at tax time.

This may be important if:

  • you get the Coronavirus Supplement
  • have earnings
  • get other taxable income in the year.

The JobSeeker payment and the Coronavirus Supplement are both taxable payments. Check on the Centrelink Payment Summary if your payment is taxable.

The amount of tax you need to pay depends on your individual circumstances. You can choose to have either a dollar amount or percentage deducted from your payment. Use the tax withholding calculator on the ATO website to work out how much tax you should pay. Or you could talk to your Tax Agent.

When you know the amount or percentage, ask us to take it from your payment. You can do this online using your:

  • Centrelink online account through myGov select deductions, then you can view, add or change your deductions
  • Express Plus Centrelink mobile app, select more, then deductions and then tax deductions.

You’ll see the total amount of tax deducted on your payment summary from early July. You can set up, change or cancel your tax deduction at any time.

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