Income tax Dates
You might be able to get the independent earner tax credit (IETC) if you move from a benefit to a job. The IETC will start the month after your benefit stops.
How to get the IETC during the year
If you're going to earn between $24,000 to $70,000 (including benefit income) then you can get the IETC during the year by choosing a specific tax code. This means you'll pay less tax each payday.
To make sure you do not underpay your tax, you'll need to give your employer 2 Tax code declaration - IR330 forms:
- An IR330 when you start your job, if it's during the same month you stopped your benefit. Choose tax code M or M SL.
- A new IR330 after your last pay in the month you started your job. Choose tax code ME or ME SL.
At the end of the tax year we'll send you an income tax assessment. If you did not get the right amount of IETC, you might get a refund or have tax to pay.
How to get the IETC at the end of the year
If you're entitled to the IETC but did not get it during the year, then you'll get it at the end of the year after your income tax assessment has been processed.
You will not get it for the months you got a benefit. For example, if you got a benefit for 3 months and worked for the rest of the year, you can get the independent earner tax credit for the remaining 9 months.