I haven't set up my own company PTY limited. I am potentially getting 2 separate contracts as a software developer. Can I work on both of them together on PAYG and TFN? Like 8 hours per day on one and 4 hours per day on another? How I manage it is my problem, I will be able to juggle around to complete both work in 9-10 hours. Also there is no clause in both contracts which forbids me from working in another company. Just concerned from the taxation aspect of it, will ATO be concerned if salary gets deposited twice in my bank account and super account? Is it legal from ATO's point of view (considering there are no issues from employer). I can say that I am working 12 hours a day, and ATO may not check which exact hours I worked, it may be 8 hours in morning and then 4 hours in evening
Can I work as IT contractor for 2 contracts on PAYG and TFN?
Comments
Just make sure you pay enough tax as you go. You don't want to get a tax bill at the end of the financial year.
it may be 8 hours in morning
You start work at 4am?
9-5 then 6-10
Sounds horrible but do what you have to do. I admire your work ethic but that is not sustainable long term.
Agreed
I have one job where i regularly work 9-6 and then 8-11. Have done it for 30 years.
Yes, you can.
Just need to ensure that only one of them takes tax based on tax rates; whereas the other will take tax based on the marginal rate.
ATO does not care how many employers you work for or for how many hours - just that tax is paid on the full earnings.
The ATO doesn't care how many jobs or hours you work, as long as you pay tax at the appropriate rate on all of your income/earnings.
If you are claiming the tax free threshold, just make sure you are only claiming it on one.
You can work for as many people as you like (if their contract permits you to).
Depending on how much you earn you also need to keep in mind the concessional super cap of $27,500, if you're earning over 275k between the two jobs.
Look forward to the post of "I got fired even though there's no clause saying I can't have two jobs" in a few months though.
Haha 😁 why would you say so mate?
Even if there's nothing in either contract about working somewhere else (which every boilerplate template I've ever seen has), it reads like you're relying solely on that and not talking to both employers about it.
If they find out you're working a second job, fine, no legal reason they can stop you. However if they find out you're working for another employer while on their time, they've got pretty good grounds to get rid of you. Since you're a contractor, some employers might get shitty on that alone and get rid of you, others might not care in the slightest.
Will depend on the setup though. If you're fully flexible in the times you work to complete the work then fine, you just need to keep on top of the workload. But once you start having meeting clashes between the two, expect headaches to arise.
Yes, thanks
ato wouldn't care less as long as you pay the tax
from the surface looks like u work 9-5 one job, 6-10 the otherYes that's right
Check employer policy and procedures above your actual contract.
Sometimes there are terms which prohibits this without permission etc.
Most contracts have a statement that employees must abide by the policy and procedures of the company.Will do thanks
The only concern would be from your employers. But you say
Then you're fine. Thousands of people have 2 jobs. The ATO doesn't care.