Help! Im going to have a Centrelink debt!

[Milk_Monkey]

We've just been sorting out tax stuff and I've underestimated DPs income for the 08/09 tax year by about $5000!

I'm guessing ill have to be paying centrelink back. Does anyone have any idea how much i might be up for?

[ILovePink]

I guess that really depends on what benefits you currently receive. If you receive a benefit you are not entitled to you would have to pay it all back. If you are still entitled you may be entitled to less which means paying that part back. They would take it from the ftb supplement first (around $600??) anything over you will need to pay. But really it depends on the benefit and what you are entitled to. I don't think anyone one here could tell u how much without knowing what u receive etc.

[bada]

Use their on-line calculator to estimate what you were entitled to, subtract that amount from what you were actually paid and there is your number :)

[bada]

Also when we did ours I was fearful I'd underestimated too, but after tax deductions it turned out centrelink actually owed us :smiliedance: Good luck.