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Thread: DF owes the tax man this yr

  1. #1

    Join Date
    Jan 2009
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    pakenham, victoria
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    Default DF owes the tax man this yr

    No biggie, was expected.
    Because he's a sub contractor we pay tax every quarter based on the previous yrs income. last yr we got a decent tax break which obviously put his income as lower, hence not paying enough tax this yr and owing.
    My question is, will this money come off my centerlink supplement?


  2. #2

    Join Date
    Dec 2005
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    In Bankworld with Barbara
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    Default

    If his total taxable income is higher than your estimated income, then yes, you will incur a debt and it will come out of your supplement payments. Forgot to add that even though he is paying tax this year, if his income is still less than the estimate then you will still get the supplements

  3. #3

    Join Date
    Jan 2009
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    Default

    I over qouted his income by about 18000 so we werent over payed by centerlink. we just underpaid tax IYKWIM? its all so confusing!
    Thanks trill

  4. #4

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    Dec 2005
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    Default

    It is confusing, but you should be right and not get a debt.

  5. #5

    Join Date
    Dec 2006
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    In my own private paradise
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    Default

    you shouldn't get a debt, and your supplments/top up (if any) should go to you as long as ftb is in your name

  6. #6

    Join Date
    Jan 2009
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    pakenham, victoria
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    Default

    Yay thanks BG, ive already spent the money in head on the new baby, so was sad to think i wouldnt be able to get wat i really wanted

  7. #7

    Join Date
    Nov 2009
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    Scottish expat living in Geelong
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    Default

    This has happened to us before. We just got a bill for the underpaid tax, and a date to pay it by. There was no suggestion to reduce my FTB, but I only got it annually so there were no regular repayments to reduce IYSWIM.

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