+ Reply to Thread
Results 1 to 9 of 9
  1. #1
    Join Date
    Aug 2013
    Posts
    3,861
    Thanks
    146
    Thanked
    1,723
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 posts

    Default centrelink

    hi

    does anyone know what the $ is for over estimating your taxable income for the financial year? is it a certain amount in the $1

    we over estimated by $2560.


    TIA

  2. #2
    Join Date
    Dec 2011
    Posts
    6,723
    Thanks
    3,792
    Thanked
    3,839
    Reviews
    17
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 posts
    Awards:
    Busiest Member of the Week - week ended 14/11/14100 Posts in a week
    I don't know specifically but I over estimated ours by almost 10k and got about 5k back. I think it depends on your tax bracket as well

  3. #3
    Join Date
    Aug 2013
    Posts
    3,861
    Thanks
    146
    Thanked
    1,723
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 posts
    Quote Originally Posted by DesperatelySeekingSleep View Post
    I don't know specifically but I over estimated ours by almost 10k and got about 5k back. I think it depends on your tax bracket as well
    Thanks

  4. #4
    Join Date
    Dec 2011
    Posts
    6,723
    Thanks
    3,792
    Thanked
    3,839
    Reviews
    17
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 posts
    Awards:
    Busiest Member of the Week - week ended 14/11/14100 Posts in a week
    Actually I just realized I over estimated by around 15k mark, sorry

  5. #5
    Join Date
    Aug 2011
    Location
    Perth WA
    Posts
    4,068
    Thanks
    1,008
    Thanked
    951
    Reviews
    12
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 posts
    Awards:
    100 Posts in a weekBusiest Member of the Week - Most posts for the week ended 26/6/14
    I over estimated by $10k and got next to nothing back so am interested in other replies

  6. #6
    Join Date
    Aug 2011
    Location
    Brisbane
    Posts
    663
    Thanks
    127
    Thanked
    220
    Reviews
    0
    Achievements:Topaz Star - 500 posts
    If it's for CCB & CCR then I think they factor in 15% amount to hold back from your payments to prevent you being overpaid

  7. #7
    Join Date
    Aug 2013
    Posts
    3,861
    Thanks
    146
    Thanked
    1,723
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 posts
    Quote Originally Posted by Snooze View Post
    If it's for CCB & CCR then I think they factor in 15% amount to hold back from your payments to prevent you being overpaid

    no mine is just for my FTB part A and B... My DD is 17

  8. #8
    Join Date
    Sep 2011
    Posts
    3,325
    Thanks
    46
    Thanked
    997
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 posts
    I over estimated my $13k but cause the brackets didn't change I didn't get anything

  9. #9
    Join Date
    Aug 2013
    Posts
    3,861
    Thanks
    146
    Thanked
    1,723
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 posts
    Quote Originally Posted by crankyoldcow View Post
    I don't know if it is still the case, but centrelink used to have income bands for working out FTB's.

    eg it your income falls between $50k and $60k you will receive $x in FTB's.

    I'm not too sure if they still calculate FTBs this way, but if they do you will only get additional FTBs if the overestimate pushes you down to a different income band. If you remain in the same band you won't receive anything.

    ahh ok thanks


 

Similar Threads

  1. Centrelink
    By SheWarrior in forum Single Parents
    Replies: 21
    Last Post: 30-10-2014, 22:30
  2. Centrelink
    By swizzlestick in forum General Parenting Tips, Advice & Chat
    Replies: 5
    Last Post: 09-09-2014, 08:06
  3. Centrelink
    By Jodes35 in forum Stay At Home Mums (SAHMs) Chat
    Replies: 5
    Last Post: 04-08-2014, 16:52

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
FEATURED SUPPORTER
Melbourne Natural Medicine ClinicLeading natural health practitioners in fertility, preconception, pregnancy, and children's health. We take an ...
REVIEWS
"Pigeon teats rule!"
by Alex
Pigeon PP Wide Neck reviews ›
"Wonderful natural Aussie made product!"
by Mrstwr
Baby U Goat Milk Moisturiser reviews ›
"Replaced good quality with cheap tight nappies"
by Kris
Coles Comfy Bots Nappies reviews ›