How Much More can I Earn from Youth Allowance?
There’s reasonably good news here.
• Full-time students can earn up to $236 per fortnight (before tax) without it changing their allowance.
• If you earn between $236 and $316 per fortnight (before tax) each $1 over $236 will mean a loss of 50 cents in the dollar from the Youth Allowance. For example, in 2002/03, if you earn the full $316: 316 – 236 = 80.
That means you’ll lose 80 × 50c = $40 overall. Carried forward, that’s $301.70 (allowance) + $316 (earnings before tax) – $40 (tax) = $577.70 per fortnight. You still have to pay tax on your earnings; tax on $316 is likely to be in the vicinity of 20 cents in every dollar.
• Students who earn more than $316 per fortnight will lose 70 cents in the dollar for every dollar over $316.
• Job seekers and others can earn up to $62 a fortnight without affecting their Youth Allowance.
• If they earn between $62 and $142 a fortnight they lose 50 cents in the dollar for every dollar over $62.
• For every dollar they earn over $142, they lose 70 cents in the dollar.
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