do i have to tell centrelink of my income? (1 Viewer)

[hatty]

hi

im currently on youth allowance, and ive heard somewhere that u can make 236 a fortnight b4 they start taking some money from your payments, anyway, ive made well over 236, but i gave them my TFN, im not intending on cheating the system, i dont care if they deduct some of my YA, but some weeks i make over the limit, and some weeks i make under, does this mean that every time i make over the limit, i have to call these guys? or does the tax office tell centrelink and they do all the deductions themselves?

thanks

 

[Skittled]

While you're at the centrelink website, look up the Centrelink 'Income Bank' too: allows you to average your income, effectively.

 

[spin spin sugar]

i know a guy in the same situation who never reported his income and was never caught out. frustrating hey? i'll prolly be getting austudy soon and i so dont want to have to report my income, cos it will prolly be like 5 bucks over every week, which is annoying, ... its so tempting knowing ppl have not reported it and gotten away with it.

 

[Skittled]

They do random audits on your account with them: I work (or worked, till he resigned th other day) with a guy who has been audited.. no problems because he reported his income every time...

If you're over by like $5 every time, it shouldn't matter: they'll only take a percentage of your $5, so you'll lose like $2 or $3 at most (assuming Ausstudy works the same way as Youth Allowance)

 

[Korn]

hi

im currently on youth allowance, and ive heard somewhere that u can make 236 a fortnight b4 they start taking some money from your payments, anyway, ive made well over 236, but i gave them my TFN, im not intending on cheating the system, i dont care if they deduct some of my YA, but some weeks i make over the limit, and some weeks i make under, does this mean that every time i make over the limit, i have to call these guys? or does the tax office tell centrelink and they do all the deductions themselves?

thanks

Yes absolutely, u must tell centre link what u earn, or u may have to pay back money

 

[theone123]

they are pretty smart, the day your employer sends in the TFN declaration to the ATO, Centrelink finds out about 1-2 days after, word of advice tell them truthfully, cheating the system will gather a lot of financial penalties.

 

[withoutaface]

What shits me is that Centrelink will talk to the ATO about my income, but when I told them they could ask the ATO for my TFN, they didn't because of some privacy bullshit.

 

[chookyn]

i earn, like way less than the 236 a fortnight. i think its like 120 a fortnight. do i still have to report this? i haven't so far, certainly not meaning to be dishonest but i didn't think it mattered, being so far under the earnings limit...

i didn't report my earnings at all last semester... i know what i earnt was well under the limit though. will they still be annoyed and penalise me if i only just tell them, say, in the next week or so? (since ur meant to tell them of changes within 14days) i just didnt get around to it last sem :/ but feel guilty for still not having reported...

 

[theone123]

if does matter, if they audit you and found out your working all along and you didnt tell them, you will be spewing out with debt, by their collection agency Dun & Bradstreet.

 

[ToO LaZy ^*]

bloody hell...why am i only getting $16.52 per fortnight?, this is ridiculous
i live at home, have no income (taxable income anyway ) and doing full time study and my parents are earning just under 50K combined

is there any way of getting my case thingo re-assessed?, they mustve fucked up something...i mean...$16.52...COMMON!.?!

 

[braindrainedAsh]

I live away from home..... our assets put my family above the threshold.... I support myself..... I don't get any money. So what you are getting sounds about right.

 

[alex_c86]

does that mean if you're a full time student living away from home and your family earns above the threshold you're not entitled to anythiing?

 

[LeftrightOut]

does that mean if you're a full time student living away from home and your family earns above the threshold you're not entitled to anythiing?

Unless you are classed as Independent yes. As an Independent you can live anywhere you like and parental income will not count. If you are not independent your parents income will count.

 

[Emily.]

i think you have to have been living away from home for a certain amount of months or something...seriously, its ALL on the centrelink website
stop being lazy and do some research!