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  1. #1
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    Default Centrelink & work bonuses?

    Hi
    Wondering if anyone knows the answer to this, was on hold with Centrelink for 50 minutes before hanging up and trying here lol.
    DH got made redundant from his role, but was offered another position. Unfortunately the pay in the new role is less. To compensate for this, he gets paid 2 'bonus' payments, 1 in September and 1 in March. I want to adjust his income with Centrelink, but do I add the bonus amount onto his new yearly income? Even though we aren't 100% sure how much it will be? Or do I wait till he gets paid it and then update? Just don't want to get slugged next year at tax time for underestimating.

  2. #2
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    what CL payments do you recieve?

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    Parenting payment partnered, FTB a & b

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    nope I would declare it as a bonus or weekly income when & if it comes in.

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    I would just do your best estimate for the FTB side of things as that's based on your yearly income. And then also include it in your fortnight reporting for parenting payment when you actually get it.

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    I don't report fortnightly payments? Maybe I don't get partnered, I thought I did.
    I'm so confused! I updated it to DH's new income, which is $80 less a fortnight take home. When I did that it cut my centrelink payment down $40 a fortnight? He was getting a salary plus reportable fringe benefits before, now it's just one salary but why would a pay cut mean less money for me too

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    Quote Originally Posted by Just*Ace View Post
    I don't report fortnightly payments? Maybe I don't get partnered, I thought I did.
    I'm so confused! I updated it to DH's new income, which is $80 less a fortnight take home. When I did that it cut my centrelink payment down $40 a fortnight? He was getting a salary plus reportable fringe benefits before, now it's just one salary but why would a pay cut mean less money for me too
    I don't know much about parenting payment. I've only got it for a 3month period were DH injured his back and was on sickness allowance but I did have to report every fortnight. I just assumed it would be the same for everyone. Sorry if I've confused you more

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    if its a set wage you dont need to report regularly just update when it changes

    if he's a sole trader you estimate your yearly income and they divide it by 52.

    by not reporting it until it comes in, your payments wont be affected until then.

    once reported your FTB payments will be reduced enough to eliminate being over paid (mine started at 500 combined & have dropped to 200 combined) re updating my financial year estimate (sole trader)

    By reporting it the week it comes in, your SPP will only be effected that one week, rather then every week. If that makes sense?

    You can declare it all & be under paid for the year which is great at tax time

  10. #9
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    Sorry are you on single parent and he is on sickness? My DD has a disability & the lump sum payments we recieve are not income tested or taxable so if you are referring to the same payments it shouldnt make a difference to your pension or family tax.


 

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