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  1. #1
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    Default Awards, are they counted as part of annual income?

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    Last edited by Guest1234; 08-01-2012 at 02:35.

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    I would advise them and explain.

    It's better to be safe than sorry!

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    If it's taxable income I'm fairly sure centrelink count it for their purposes.

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    Quote Originally Posted by LoveyDovey View Post
    I would advise them and explain.

    It's better to be safe than sorry!
    That's what I think! I'd rather be underpaid by them rather than ending up having a debt with them.

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    I would report it. Is it taxable?
    I know when i report my earnings each week it says do you have any other type of income such as scholarships etc.

    Sent from my LG-P920 using Bubhub

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  7. #6
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    Buttoneska is offline Winner 2010- Most Community Minded Thread Award
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    Awards r tax free and not reportable aren't they. Allowances and other items need to be reported.

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    I would ring them and ask. I think they are all reportable.

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    Im not sure if its the same thing but we get 'fringe benefits' ? Which Centrelink ask for. For eg, we get paid $13k for travel and the employer matches a certain percentage of Super which adds up to a few thousand extra. And we also get 'remote living allowance' from the employer. So everything is added together and bumps our income up $25k.

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    Hi bell & bug, I'm Marian, I work at the Department of Human Services in a team that responds to enquiries about Centrelink on social media sites like this one.

    To ensure your income estimate is accurate, you need to take into account all the adjusted taxable income components for you and your partner.

    Your adjusted taxable income includes; your taxable income (including any Parental Leave Pay), reportable fringe benefits, tax-free pensions or benefits, foreign income, tax-exempt foreign income, reportable super contributions and total net investment losses (less any deductible child support you may pay). If your partner's awards/extras/allowances are part of his taxable entitlement, they should be included. You might want to check with his employer as to how they are paid.

    There's more info about estimating your income on the Family Assistance website here; http://www.familyassist.gov.au/payments/income-estimation.php

    You can contact the Family Assistance Office on 13 6150 to discuss your individual circumstance.

    Hope that helps.


 

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