Reply To: PAYG & contracting, 2 jobs.

[Laura]

Thank you.
these have been really helpful.
from what I have gathered so far, I have not yet got an unregistered trust, so I think I still have compliance obligations to the public realm especially since I have not selected the box to not lodge a future tax return. So, for this year I will need to add the productivity of my labor from my contracting job, along with the PAYG income I received.

If I get an un-registered trust created now I can get paid directly into it from now on and just pay the contacting business accounts just to cover costs for bills etc, and I will have selected no future return now, so they won’t need to balance any amount to a future return.
The business account is all they will see making money and that will be well below the threshold anyway. happy days… if I’m making sense and I have that right? haha

One more thing though. Do I fill in a PAYG tax return form, and Also an Individual tax return form. Then send them in together? I can’t put a PAYG and Individual earning together on the same form being different types of earnings?

Again, Thank you!!! I do really appreciate the help 🙂