myIR, payments and more
When you come off a benefit and start work, you need to make sure you give your employer the correct tax code.
If you're working out your eligibility for the independent earner tax credit (IETC), note that your eligibility is based on your total income for the year, not the amount you’re currently receiving in salary or wages.
For 10 months of the year Jill’s income was $15,000. Jill then received a pay rise and for the remaining two months of the year her income increased to an annual rate of $25,000.
Even though Jill’s current income was within the eligible income band for receiving IETC, she wouldn’t be entitled to IETC payments. This is because her annual income would still be less than $24,000.