income

[sassy123]

when putting estimates in do you put the gross income of taxable income?

I always thought it was the taxable income.

I just got a letter saying that cl has been sent my details from ato from last financial yr and that it is more then what i have put our incomes down for this financial year and are advising me to put them up. now the income they have given seems to be very high.

[nothing2lose]

It is gross income.

[briggsy's girl]

gross

[sassy123]

oh no. im going to be way under then.

I swear every other yr i have been fine with my taxable income. i do daycare so my income comes down alot with my deductions or is it different as i am self employed.

[briggsy's girl]

i'm assuming, from the letter, that the ATO haven't deducted as much as you thought.
it would be your income after deductions but obviously what your actual income came out to is more than the current year estimate

you can check if online (go to your online services, family assistance, family income history (or something like that!))
you can look at your current year estimate, last years estimate, and if fao have your income, it should show it there for the 11/12 year as well

[sassy123]

thanks bg didnt even think about looking on there.
I just checked and it shows our actual income for last yr as 69102 so it did to the taxable income. I had estimated 71k so we were under
but on the letter it is advising to put it up to 92K
I am thinking maybe it wants a gross income cause u never know how much the deductions will actually be so if u put the gross amount in then u are safe ifykwim.