Get Money from Second Job/Passive Income

CharityCase on 23/05/2017 - 18:41

Hi guys, I'm currently working in an airline, 3-4 days per week (with two days at weekend) and normally finish the job before 11 am so I have a lot of free time, now I really want to find a second job or get some extra money from passive income sources. Can anyone share some ideas?

about me:

  • male 27, not married, no kids
  • degree of accounting and finance (not interested in this field though)
  • worked for two airlines in 3 years (never changed industry)
  • have driver license and car
  • bilingual (English and Chinese)
Education & Work

Comments

  • KaTst3R on 23/05/2017 - 18:48
    +35

    *have driver license and car

    Sounds like an "Uber" opportunity. Pun intended.

    • CharityCase on 23/05/2017 - 18:49

      I really want to drive uber however I'm on my red-P so…but thanks anyway :)

    • Diji1 on 23/05/2017 - 20:20
      +27

      Uber drivers are paid below minimum wage.

      • Kangal on 23/05/2017 - 21:55

        They work for tips…. then have to pay that in their tax.

        • [Deactivated] on 24/05/2017 - 11:40

          …. or not!

        • dsp26 on 24/05/2017 - 22:00

          If it is a second job, could you not put all uber earnings into an SMSF and only be taxed the 15%?

        • WhatWouldBiggieDo on 25/05/2017 - 10:08
          +13

          @RB260483: And not have access to the funds for 40 years?

      • [Deactivated] on 25/05/2017 - 19:35
        +12

        As an Uber driver who recently deleted their account - I can safely say that Uber is a scam on many levels. At first it seems amazing - but after all costs and finances taken into account it's absolute rubbish.

        • virhlpool on 25/05/2017 - 21:18

          At first it seems amazing - but after all costs and finances taken into account it's absolute rubbish.

          Rubbish to driver or passenger? For passenger it is still good I guess sheer due to price.

        • [Deactivated] on 26/05/2017 - 22:35
          +1

          @virhlpool:

          It's actually really funny for a passenger.

          When they put a surge on during the most popular periods - you're better off catching a taxi.

          And guess what - you can call a Taxi right out of your Uber app.

          They don't care who they take a whopping 25% cut from - drivers / taxis / hire cars. Hell - they'll open up their industry to anyone just to take in more money. There is no exclusivity to their platform.

          But the worst part is… Guess where all the ca$h is going. Straight out of Australia and into overseas pockets.

          And on top of that it's tax free for them… but guess what - I get stung with GST and income tax while they pay… wait for it… nothing.

        • striker5950 on 26/05/2017 - 22:41
          +1

          can you elaborate? how long did you do it for? what made you stop? any crappy passengers that gave you trouble? whats are the downsides of he job? how much did you average an hour in your pocket after all expenses and tax?
          sorry for all the questions but i was thinking about signing up..

        • virhlpool on 27/05/2017 - 07:18

          @Michegianni:

          But the worst part is… Guess where all the ca$h is going. Straight out of Australia and into overseas pockets.

          And on top of that it's tax free for them… but guess what - I get stung with GST and income tax while they pay… wait for it… nothing.

          I don't agree with these two statements. Why is cash going into all overseas pockets? Don't you get the money when you drive an Uber?

          Please elaborate on the second statement. How is it tax free for them?

        • [Deactivated] on 27/05/2017 - 11:29
          +14

          @virhlpool:

          Agree or not - drivers are working for an overseas company. They have to pay fuel, rego, maintenance, insurance. They have to pay GST on their earnings however customers don't get a GST invoice from Uber. Why are they so special that I have to be hit with a GST component but they don't have to pay GST nor do they issue GST invoices? There's 10% on top of the already extortionate 25% commission they take that they have continued to increase since they started at the low 15% threshold back in the day. 35% gone straight before you even hop in the car. They may have created underpaid jobs in Australia - but all of their earnings go overseas and they avoid paying GST. I'd be surprised if they had to pay tax on their earnings considering the commission component does not go to an Australian company.

          Let me break it down for you…

          I was between jobs and drove 40 hours in 1 week (approximate hours of a 9 to 5 job)

          I earned $1300 or so that week gross.

          Here were my costs:

          Fuel $177
          Rego $28.80 ($1500 rego per year - registered for business)
          Insurance $25.9 ($1350 insurance per year for ridesharing with NRMA)
          GST $118.19 ($1300 - ($1300 / 1.1))
          Australian Income Tax $287 (http://www.paycalculator.com.au/)

          Total $663.11 after expenses and taxes. That gives me in my pocket $16.58 per hour. A McDonalds worker can earn more.

          Sure I can claim car expenses and the rest at the end of the year but let's offset any of those claims with the below:

          • Maintenance at 5 times faster intervals - be prepared to spend some $$ on tyres / breaks / service and of course cleaning (don't think for one second you won't be cleaning vomit from your car if you intend to make any serious $$ Friday / Saturday night 3am runs)

          • Depreciation of your vehicle. $20k vehicle with some serious Ks will depreciate very quickly.

          Let's also not forget that there is no Super payment or component included.

          See Youtube Video:

          https://www.youtube.com/watch?v=fgQPj90OrQE

          This example is for the US but it raises a bunch of points that can be applied to AU environment

          Further reading here:

          http://www.news.com.au/finance/business/travel/uber-ponzi-sc…
          http://www.businessinsider.com/australian-fund-manager-calls…

        • [Deactivated] on 27/05/2017 - 11:34

          @striker5950:

          See above

        • Nillionaire on 28/05/2017 - 22:51

          Came across this video a few days ago:

          Why Uber Is A Scam - Math Explains

          It uses US data but still worth a watch for all the factors involved.

      • virhlpool on 25/05/2017 - 21:17
        +1

        So are pizza delivery guys and many people working in local/ethnic restaurants and at times even chains.

    • kylarstern on 27/05/2017 - 10:51
      +5

      Uber is garbage and completely overrated. Great for consumers but its not worth it for the drivers. A friend of my whos a bus driver took leave and did Uber for 3 weeks and he actually liked it at first but recently quit because of the the shitty wage and rude customers (he was verbally abuse on several occasions and in one instance threatened by some junkie passenger). He went back to his bus job. Would not recommend doing Uber unless you're unemployed and looking for something to feel in the blanks until a new job.

  • MITM on 23/05/2017 - 18:48
    -5

    Uber comes to mind.

  • Gronk on 23/05/2017 - 18:53
    -4

    I'm thinking Uber!

  • poboy on 23/05/2017 - 18:55
    +16

    Invest time in accelerating your career.

    • virhlpool on 25/05/2017 - 21:19

      Like? How?

      • gimli on 25/05/2017 - 21:55
        +20

        Apply a force
        F=ma

        • stumo on 27/05/2017 - 11:20
          +1

          Or put another way…
          a=F/m

          so…

          Simply lose some weight to accelerate more.

  • brokeunistudent on 23/05/2017 - 19:08
    +16

    Sell drugs

    • CharityCase on 23/05/2017 - 19:31
      +43

      I recommend ozbargain to everyone I know but I don't get paid by doing that

    • xoom on 23/05/2017 - 20:55
      +60

      import headphones from colombia.

      • Dpkmax on 26/05/2017 - 20:41

        @xoom I am reading this second . whats the story behind the headphones from Colombia

        • xoom on 26/05/2017 - 20:56
          +1

          some aussie chick got done bringing in headphones from colombia loaded with drugs. over 5kg worth.

          she said she was going to give them as wedding gifts.

          the story continues to say that she got them headphones from some guy. with her trip to colombia paid for by some random she dont know who she said was from hongkong.

          TL;DR

          tried to smuggle drugs hidden in headphones.

          https://www.theguardian.com/commentisfree/2017/may/22/cassie…

        • Dpkmax on 26/05/2017 - 21:23

          @xoom: haha yeah have seen her clips on the news channel but never really knew the story behind as I wasn't following . But now I know from were the headphone topic comes in Thanks mate

    • captobvious on 25/05/2017 - 10:21
      +2

      You obviously work at the airport? You are already one step closer to drug trafficking

  • ihbh on 23/05/2017 - 19:19
    +7

    Chinese restaurant - start at the bottom as a dish washer, then fryer, then cook.

    • CharityCase on 24/05/2017 - 10:32
      +1

      And paid by cash, at the end of the day it might be better than a serious second job taxed heavily

      • virhlpool on 25/05/2017 - 21:22
        +2

        And paid by cash, at the end of the day it might be better than a serious second job taxed heavily

        But only $10/hr or $12/hr, so it comes to the same as paying taxes on legit income? I would prefer later in that case as at least it's legit.

  • superb on 23/05/2017 - 19:20
    +11

    Can consider translation odd jobs available on Air tasker. You can also browse Air Tasker and get an idea of things that might interest you.

    • Hardlyworkin on 23/05/2017 - 21:13

      Upwork also on the translations

      • SaberX on 26/05/2017 - 12:22
        +1

        when i looked at some basic stuff like transcribing (as I type fast, so I could transcribe audio reasonably well, the prices were like < $10/hr and ridiculous. Can't imagine other jobs like translating and other odd jobs paying much? Seems like everyone is off for a cheap fix on these platforms?

    • Oofy Doofy on 28/05/2017 - 20:30

      It's a race to the bottom on these platforms. Either blame people for being desp or those that don't value time and effort whatsoever. Seen many cases of offers for 5 bucks for advice from a professional about something highly skilled. I was glad to see most reasonable people tell them off for offering such low money for the required knowledge/advice/skills.

  • AlienC on 23/05/2017 - 19:29
    +1

    I am looking into this too. I did a one day RSA/RCG course and can now apply for bartending jobs. Other than that airtasker and gumtree for odd jobs whatever you may fancy or can handle.

  • scrimshaw on 23/05/2017 - 19:38
    +7

    Become a translator. How about becoming NAATI certified, and then translate people's travel documents, passports and birth certificates.

    • donga100 on 23/05/2017 - 19:44
      +2

      I've been looking at that recently. Costs about $1000 just to sit the test and friends who have done it say that you should really do a course before the test as it's pretty difficult and you need to pay each time you attempt it.

      • Findo on 23/05/2017 - 20:20
        +6

        My mother is a level 3 interpreter for Cantonese and mandarin. It's not easy, you definitely should do a course beforehand if not a degree.

        • velleyy on 26/05/2017 - 21:22

          Hey, I'm gonna take the test next week. But only the paraprofessional, you ever heard about how hard it'd be? It'd be much easier than what your mom did I'm sure. I'm feeling a little stress going into it :C

        • Findo on 26/05/2017 - 22:00

          @vdan: that's the level 2 test, right? Mum upgraded her mandarin level 2 qualification to professional last year by taking the higher level test, she said they were both bloody difficult.

          Did you do any study for it?

        • velleyy on 26/05/2017 - 23:55

          @niggard: Yeah, trying to catch up a little on it. I'm more worried about the specific jargons. I was a little bit stumped when I saw phrases like Oestrogen haha. It's just so hard to translate those back into Mandarin.

        • Findo on 27/05/2017 - 01:09

          @vdan: medical, legal and financial things are the order of the day most of the time. I can ask her what the test is like, but they definitely change with each test cycle.

        • MrTweek on 27/05/2017 - 11:28

          @niggard:
          Not every cycle, but they completely overhauled the system a couple of years back. Used to be so cheap and easy that migrants often sat the test to get extra points for their visa.
          Nowadays even a language teacher would struggle without serious preparation.
          They also reduced the validity from unlimited to three years, so you have to actively use is and renew it, other wise your accreditation will expire.

    • Incrediho on 26/05/2017 - 19:45

      Unsure of time scale but all but the most exceptional translators could be facing extinction over the next several years due to the emergence of neural networks (very capable deep learning AI). Translation has been one of the most promising applications of this technology.

      https://www.nytimes.com/2016/12/14/magazine/the-great-ai-awa… for anyone who wants to take a deep dive down that rabbit hole.

      • Findo on 26/05/2017 - 22:49
        +1

        Skynet is coming

      • MrTweek on 27/05/2017 - 11:29
        +2

        Give it another 20 years.

  • altomic on 23/05/2017 - 19:41
    +3

    find the right product to sell on ebay.

    • banzini on 23/05/2017 - 20:02
      -3

      then pay tax on the profits at the highest tax bracket you're in with your 9-5 job

      • altomic on 23/05/2017 - 20:20
        +1

        ??????

        • Donaldhump on 23/05/2017 - 21:55
          -1

          clearly a learned doctor

      • jorf on 24/05/2017 - 08:28
        +1

        That's not how tax works.

        • banzini on 24/05/2017 - 10:17
          +1

          page 3 onward may help; unless you set up a sole business, any amount over 10k turnover on ebay in a financial year is reported to the ATO.

          https://community.ebay.com.au/t5/Recent-eBay-News/Australian…

        • ozbjunkie on 24/05/2017 - 18:08
          +5

          @banzini:
          Multiple eBay and PayPal accounts it is then!

        • banzini on 24/05/2017 - 21:40

          @ozbjunkie: :)

        • paradoxez on 26/05/2017 - 10:09
          -1

          @ozbjunkie:

          Multiple Paypal accounts - That's an easy ticket to get banned forever from Paypal. They're serious, Don't.

        • Shwayne on 26/05/2017 - 11:52
          +1

          It does actually.

          If you're earning an amount that has something in the highest bracket, any additional income is going to fall in that same bracket.

        • jorf on 26/05/2017 - 11:59
          -1

          @Shwayne:

          The perception (as indicated by banzini) is that a second job automatically gets taxed at the maximum rate, which is simply not true.

        • jorf on 26/05/2017 - 12:00
          -2

          @banzini:

          I'm not saying you don't need to pay tax.. You don't get taxed in the top bracket for a second job, unless all your other income is also earning in the top bracket.

        • banzini on 26/05/2017 - 12:02
          -1

          @Shwayne: Finally, someone who gets it.

        • banzini on 26/05/2017 - 12:03
          -1

          @hcca: Not indicating anything one way or another, just making sure that anyone who wants to adopt a second income from eBay knows that any additional income derived will be taxed at 35% or 49% (examples), at their highest tax bracket.

        • banzini on 26/05/2017 - 12:05

          @hcca: That's an entirely different subject. When you work a second job, you tick a box to outline that you have additional employment and you need to have your PAYG deduct tax at 50%. Any difference is refunded at tax time.

      • [Deactivated] on 24/05/2017 - 21:11
        +7

        So you rather earn less to pay less tax?

        • WhatWouldBiggieDo on 25/05/2017 - 10:09
          +2

          It's the Australian way

        • johnwinkle on 25/05/2017 - 20:48
          +5

          @antt: The Australian way is earning no money and getting others' tax money

    • MrTweek on 27/05/2017 - 11:30
      +1

      I hear mouse pads are good.

  • banzini on 23/05/2017 - 20:03
    +3

    teach people to speak another language with your bilingual skills?

  • Savas on 23/05/2017 - 20:35
    +15

    Referral spam

  • [Deactivated] on 23/05/2017 - 20:47

    airtasker?

  • Hardlyworkin on 23/05/2017 - 21:21
    +2

    Why not accounting? Trying to get some extra work around tax time or general contracting work.

    Unless the second job isn't about money at all? If it about money then put interest aside and do what you're trained in… Or just be like the rest of us mugs thinking about Uber etc

  • Donaldhump on 23/05/2017 - 21:55

    which city?
    some airports employ Chinese liasons?

    • Jolakot on 25/05/2017 - 11:02

      I think so, yes.

  • Kangal on 23/05/2017 - 21:59

    Can't believe no-one's mentioned it yet, but there's always prostitution.

    You never know, you might even inherit some wives and kids.
    Your accounting and finance degrees will definitely come in handy.
    And you'll need your Car and License obviously.
    …can always put on your bilingual accent to increase your exotic status for a higher charge rate!!!!

    • Colombian on 24/05/2017 - 06:57
      +17

      Cassie, is that you?

      • xoom on 24/05/2017 - 08:13
        +7

        Cant be cassie. Did not mention getting headphones from colombia as gift in wedding.

    • [Deactivated] on 25/05/2017 - 09:53
      +1

      There's plenty of variations, if you don't want to do full service too: pics, porn, live cam, etc

    • xuqi on 25/05/2017 - 22:53
      +1

      yeah, but I doubt there's much need for 'Asian' talent!

  • djkelly69 on 23/05/2017 - 22:51
    +11

    What about a part-time job at the casino? Accounting/finance will come in handy, as well as bilingual-ness.

    • Ken1977 on 24/05/2017 - 08:20

      Good suggestion, I've heard it's good money too.

    • CharityCase on 24/05/2017 - 10:53
      +1

      I have a co-worker who did a part time casino job before but she quit after a few weeks because all the shifts she got are from midnight to early morning, which not everyone can handle. I might give it a go.

      • SaberX on 26/05/2017 - 12:23

        casinos tend to pay more though for these graveyard shifts. haha and without racially stereotyping but the local burswood crown casino in perth is full of asians (many being friends).. for a reason :D

        • B-Rad on 26/05/2017 - 19:59

          Night shift only pays an extra $2/hour. Could you please elaborate on your reasoning?

        • velleyy on 26/05/2017 - 21:23

          Might be wrong, but a few friends working at Crown doesn't seem to get any extras on top of it since their base are pretty high already. Might be wrong!

        • SaberX on 29/05/2017 - 03:33

          @B-Rad:

          Tbh I Thought the night shift would be alot higher for $. I guess the only logic left is asians don't mind doing the graveyard shift and grabbing money while they can - less competition for it from others. It's pretty stereotyping but I would have to say it holds true that asians will sometimes do jobs or shifts that non asians would more likely give up than grit their teeth. Not a blanket rule, but just something i'd note in general.

  • jjjaar on 24/05/2017 - 08:00
    +3

    People might pay to just have coffee with you and practise their Chinese skills. I was looking to do that with English in non English speaking countries.

  • Ryanek on 24/05/2017 - 08:21
    +2

    Male gigolo. That's how I paid for uni.

    • woteva on 24/05/2017 - 20:06
      +1

      Mangina - see Deuce Bigalow for some tips.

    • PVA on 25/05/2017 - 10:32
      +11

      What degrees are $1.50?

    • sicklad21 on 24/05/2017 - 08:40
      +8

      This is actually untrue

      https://www.ozbargain.com.au/node/308427?page=5#comment-4713…

    • djkelly69 on 24/05/2017 - 09:10
      +8

      Yeah not correct at all - income is taxed at the income tax rates, regardless of how many jobs you have.

      You will however have more PAYG tax taken out for a second job because you have to ignore the tax-free threshold.

      • jenkemjunkie on 25/05/2017 - 06:42
        +5

        You DO NOT have to ignore the tax free threshold. They only recommend people get taxed this way with a second job because most people can't manage their finances and freak out when they get tax owing on their tax return.

        • manshrew on 25/05/2017 - 08:49

          https://www.ato.gov.au/forms/tfn-declaration/?page=2#Section…

          "Question 8
          Do you want to claim the tax-free threshold from this payer?
          Answer yes if you want to claim the tax-free threshold, you are an Australian resident for tax purposes, and one of the following applies:

          • you are not currently claiming the tax-free threshold from another payer
          • you are currently claiming the tax-free threshold from another payer and your total income from all sources will be less than the tax-free threshold."
        • jenkemjunkie on 25/05/2017 - 10:31
          +1

          @manshrew:

          It is not an offence to claim the tax free threshold on two jobs. No offence would be found if I worked two jobs earning $50K and claimed the tax free threshold on both if I met my tax liabilities at each financial year.

          Like I said the ATO don't want people doing this because it usually results in a debt for individuals without any foresight to meet those liabilities at tax time. Hence why the guidance on that particular question is given as such.

        • Baysew on 25/05/2017 - 10:59
          +2

          @jenkemjunkie: The Tax File Declaration form states -

          DECLARATION by payer: I declare that the information I have given is true and correct

          Underneath the signature it has this warning -

          There are penalties for deliberately making a false or misleading statement.

          Tax File Delclaration

          To claim twice, as in your example, requires a false declaration

Login or Join to leave a comment
Login Join