Whats the difference between tax free threshold with no leave loading/ no tax free threshold?
Yes, you’re right the ‘no tax free threshold’ relates to those people who have claimed the tax free threshold with another employer and have a second or third job. The other two are ‘tax free threshold with leave loading’ and ‘tax free threshold with no leave loading’. Both of these are used for your first job. Leave loading is an old thing brought in years ago and is basically an extra 17.5% you receive in your pay packet when you take holidays. For an easy example, say you take 10 days off, and get paid $10 a day, the total would be $100 and you’d get an extra 17.5% of that, so $17.50. I THINK the reason why they take a little extra from those with leave loading is to put it towards the tax you would pay on that extra 17.5%. I know that when I get mine I don’t have to pay tax on the first $350 due to the extra tax I have already paid. Not all employers provide this though. I hope that I have helped answer your question.
