Don't you love how the rules are different with every department.
ATO- redundancy under tax free threshold. They still removed 10% from the payment before it cleared my acount though
Centrelink/pension consider it to be income for XYZ period, and as such will pay nothing at all until XYZ.
Family Tax consider it lump sum payment within my taxable income. They don't care what level of tax applied (ie reduced due to redundancy) it's still income so hello Family Tax and childcare support debt
Childcare benefit reduces based on lump sum payment
Child support agency considers it lump sum payment and as such INCREASES my taxable income for the year. The really funny thing though.... this increases the amount of child support I receive from XDH. (pool of allowable funds to be distributed for child increases).
Since all of that makes sense... I think I'm ready for my accounting degree LOL.
How the F- can each department take the same payment and twist it around in so many ways?
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01-03-2013 11:26 #1
Whinge about redundancy, CS, Centrelink and ATO
01-03-2013 11:48 #2
Yep it sucks! DH was made redundant last year and we went through all the bs too (except for the child support)
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