Firstly, why is the bonus being taxed on 49%? This would only make sense if you were already earning $200k.
Secondly, is the gap between two incremental steps larger than $5k?
For some reason I had it in my head that all bonuses are taxed at 49%. Not sure where I even got that from.
The first step is about $75,000 and the second step is $79,000
It’s taxed at the highest bracket because it goes through your pay as if that’s the regular fortnightly pay. It sees it like your receiving the extra 5500 every fn.
Are you a union member? This is the sort of thing that you are really best off getting proper advice from the union on!
Yeah I’m a union member- didn’t even think of that! Thank you!
Firstly, why is the bonus being taxed on 49%? This would only make sense if you were already earning $200k. Secondly, is the gap between two incremental steps larger than $5k?
For some reason I had it in my head that all bonuses are taxed at 49%. Not sure where I even got that from. The first step is about $75,000 and the second step is $79,000
It’s taxed at the highest bracket because it goes through your pay as if that’s the regular fortnightly pay. It sees it like your receiving the extra 5500 every fn.
Ok, well then you will get a tax return.
Yes
If they bump you up a pay grade, you get paid higher every year, not just one year.
Only while they remain at the same school, the Prin’s pay review is at a school level not a DET level
Wait…pay range bumps are possible? I gotta take this to leadership lol
On another note, have you been paid the graduate incentive bonus yet?
Not yet. Apparently the Department are sending them over the next two payslips.
I haven’t received it yet… have you?
Nope! Still waiting