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  1. #1
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    Default Overestimated Income with Centrelink

    Hi everyone,
    I am only new to the forum so please forgive me if this question has already been asked.

    Myself and my husband each own small businesses. Which after getting a tax done have realised that we have overestimated our income with centrelink by almost $60,000.
    My FTB had been deducted throughout the year to suit the estimated income. Our tax were both lodged yesterday.

    My question is has anyone else overestimated by this amount and will centrelink owe us any money?

    Thankyou for your time.

  2. #2
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    Yep, they will owe you money which you should get within 6 weeks of lodging your tax as a lump sum.

  3. #3
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    Yes they will top up with a lump sum payment to what you should have received. I overestimated too and gave them a call once my notice or assessment came though and they sent through payment the following weeks. It was a great bonus.

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    Thanks ladies. How can I roughly work out what I will get back? Or does anyone know?

    Thankyou

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    Centrelink should have an online calculator you can use but you will need to know how much you have already been paid.

  6. #6
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    Yep I have my payment summary from them. Thankyou


 

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