Second Job Tax Deductions: Maximise Your Return With Tax Accountants Australia

Second Job Tax Deductions: Maximise Your Return With Tax Accountants Australia

Working multiple jobs might boost your income, but it can also complicate your tax return. If you're not careful, you could miss out on valuable deductions and overpay the ATO. This is where expert tax accountants Australia can help. With the right tax strategies and claimable expenses, you can maximise your tax return and make every dollar of your hard work count.

Key Highlights of the Personal Tax Cuts

1. Revised Tax Brackets

The 2025-26 budget introduces significant adjustments to income tax brackets in Australia:

  • The 19% tax bracket now applies up to $50,000 (up from $45,000)
  • The 32.5% rate has been reduced to 30%, now covering incomes from $50,001 to $135,000
  • The 37% bracket kicks in from $135,001 to $190,000
  • The 45% top bracket now starts from $190,001

These changes are expected to benefit low and middle income earners, offering them tangible relief from tax burdens.

2. Low and Middle Income Tax Offset (LMITO) Adjustments

Although the LMITO officially ended in previous years, the government has indirectly compensated by adjusting tax thresholds and rates. According to tax accountants in Melbourne, this method is seen as a more transparent and sustainable form of relief.

3. Simplified Tax Filing for Individuals

To reduce administrative overhead, the ATO has launched an updated e-filing system that auto-fills more fields than ever before. This enhancement is especially useful for clients seeking quick and accurate submissions via tax accountants in Melbourne.

Who Benefits from the 2025-26 Personal Tax Cuts?

Low-Income Earners

  • Increased tax-free threshold offers more take-home pay
  • Enhanced support through revised tax brackets

Middle-Income Earners

  • Main beneficiaries of the reduced 30% tax rate
  • Families earning between $90,000 to $135,000 will see notable reductions in tax liabilities

High-Income Earners

  • While benefits are less pronounced, tax simplification and adjusted thresholds still offer marginal relief

Expert Insights from Tax Accountants in Melbourne

Why You Should Speak to Tax Accountants in Melbourne

Even though the changes may seem straightforward, the details can get complex—especially for those with multiple income sources, deductions, or investments. Tax accountants in Melbourne recommend reviewing your financial strategy to maximise refunds or reduce payable tax.

Common Advice from Melbourne-Based Experts:

  • Review salary packaging options
  • Adjust PAYG instalments based on new tax brackets
  • Consider superannuation contributions for long-term tax planning

Tips to Maximise the Benefits of Tax Cuts

  • Use tax planning tools: Online calculators and budget planners
  • Schedule a tax health check: Mid-year is the best time
  • Organise your receipts: Claim all eligible deductions
  • Work with professionals: Seek advice from trusted tax accountants in Melbourne

Conclusion: Make Your Second Job Work for Your Wallet

Balancing two jobs isn’t easy—but managing your taxes smartly can help make it worthwhile. By understanding second job tax deductions, keeping accurate records, and consulting experienced tax accountants Australia, you can legally reduce your tax bill and boost your refund. Ready to take control of your dual income? Speak with trusted tax accountants Australia today and make your hard work pay off at tax time.

Blogs


Contact Us


Second Job Tax Deductions: Maximise Your Return With Tax Accountants Australia

Maximize Your Refunds with OZ Taxation’s Expert Services!

Contact Now

FAQs

1. Will I pay more tax if I have a second job?
Yes, your second job is taxed at a higher rate since the tax-free threshold applies only once. However, deductions help balance this out.
2. Can I claim travel between my two jobs?
Yes. Travel directly from one workplace to another on the same day is usually deductible.
3. How do I know what I can claim for my second job?
Work-related expenses like tools, uniforms, and home office use are commonly claimable. Speak to tax accountants Australia for personalised advice.
4. Is it worth using a tax agent for two jobs?
Definitely. A registered tax agent can identify deductions you might miss and ensure full compliance with ATO rules.
5. What if I didn’t claim anything last year?
You can often amend previous tax returns for up to two years. Your accountant can assist in lodging a correction.
6. Can I split the tax-free threshold between both jobs?
No. You must claim the threshold from only one employer, typically the one with higher income.
7. Are online course expenses deductible for a second job?
Yes, if the course directly relates to your job duties and helps maintain or improve the skills needed.