Tax return situation

[JasonByrne]

Hi guys, im going to try and explain this the best I can. My DH is a tradie and works full time. He also had an ABN which he would use to work side jobs etc over the years. The last financial year he didn’t work any side jobs but was taxed more because of his ABN that he added as a 2nd job on his tax i assume? he received 20k tax return, and earned about 110k during that tax year. waiting to see how much he will get this year and he now wants to do the same in the 2024-2025 tax year. I’m of the opinion that he should only include his full time job (his only job) and get taxed less and then we can put money aside week to week. He said this is an easier way to save and I said I said that we can save just fine and that I want to put the money in savings each week rather than barely adding to savings unless it’s during tax time. We are hoping to buy a house in the next 2-3 years. I said the bank would like to see someone who adds to their savings every paycheque and not just once a year at tax time. He said it doesn’t matter as long as they see you paying your rent etc. Has anyone else done this or if you or DH earned around 110k, how much tax return did you get?

[LanestIo]

So he’s not claiming the tax free threshold on his job? Is that why the return was high? Having n abn doesnt automatically you pay more tax, its based on earnings so if he had no earnings ita irrelevant.

[Sanidly]

I used lodgepro.com.au this year and it made things heaps easier. They break down everything step by step, and I could ask quick questions when I got stuck. I didn’t need to stress about what to include or if I was missing something. If you're unsure about how things affect your return, it's worth checking them out—it saved me a lot of time.