• 1300 365 7 24
  • BSB 721-000
Search

Advice for Young People Starting Their First Job

There are many advantages to entering the workforce at a young age, building up your experience, developing your skillset in a chosen trade or profession, and earning some money in the process.

In this article, we will outline the key issues you need to keep in mind as you enter the workforce for the very first time.


How to Apply for Your First Job

In order to apply for your first job, you’ll need a Tax File Number (TFN for short). The process is simple enough, just follow this link to the ATO website and apply online.

Once you have a TFN, you can start looking for work! In NSW, there is no minimum age requirement stopping you from getting a job. The one exception to this is door to door sales, where you need to be at least 14 and 9 months.

 However, be aware that companies do have their own in-house policies with regards to minimum age. For example, many fast food companies such as McDonald’s begin the recruitment process with children as young as 14 years old.

Many companies list their minimum age requirements on their website, so a company's website would be a good place to start your research.



What Documents Do You Need?

Your employer will need the following information to be able to hire you:

  • Your tax file number.
  • The BSB and account number for your savings account into which your pay will be electronically deposited.
  • Your superannuation details for the superannuation account to receive any superannuation payments required to be paid by your employer

Remember to ask your financial institution to link your TFN to your savings account as this will avoid the financial institution withholding tax from any interest earned.



Do I Need to Pay Tax?

If you earn income, you will have to pay tax once you earn over the tax free threshold as determined by Government and as applied by the Australian Tax Office (ATO).

We recommend that you read over the ATOs special guidelines for tax rates applying to the income of minors if you want to do further research on the topic.



Making the Most of Your Savings Account

If you are a Holiday Coast Credit Union member, there are several features that make it easier to track your income including your pay. You can setup SMS notifications that will notify you when your employer has processed your pay. You can also setup SMS notifications to notify you when your account balance reaches a certain level - either a minimum or a maximum alert

If you are a Holiday Coast member, we highly recommend that you download our app to manage your account. To download our app, click here for iOS, or here for Android.

For more help on making the most of your savings account, call 1300 365 7 24, email ubelong.com.au or drop into one of our Holiday Coast branches near you.


This article provides general information only and should not be relied upon as financial product advice.

Need Help Starting

Savings

Calculate how much money you will need to save to achieve your financial goals.

USE SAVINGS TOOL ->

Income tax calculator

Use this simple easy to use Australian tax calculator to work out the tax you will pay on your employment income this year.

USE INCOME TAX TOOL ->

create the life that you want

become-member-icon Become a member

We are 100% customer owned. A $10 share enables you to become a customer-owner and access all financial services designed to suit your life stages.

Apply Now ->

savings-icon Savings

No matter what your goal, we have a saving account designed to meet your needs. Our goal is to help you get started and continue to grow.

Apply Now ->

transactions-icon Transactions

A transaction account is an everyday account that allows you to manage your funds on a daily basis. Have your salary deposited, pay your bills and have 24 hour access to your funds.

Apply Now ->

loans-icon Loans

From a personal, Personal Loan to a Home Sweet Home Loan to a Light Visa Credit Card. Holiday Coast has options to cover every possibility.

Apply Now ->

insurance-icon Insurance

Protection for You and Your family… Holiday Coast offers a range of insurance products at competitive premiums backed by Allianz, Bridges and QBE.

Apply Now ->

LET'S TALK

location

Find a Branch

Go
mobile lender

Mobile Lender

Go