thread: Estimating income

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  1. #1
    Registered User
    Add Beautitude on Facebook

    Feb 2008
    Adelaide SA
    684

    On your statement that you get from the FAO it should say how much ftb a & b you received for the financial year and what you were entitled to. I'm not aware of another statement you can get that details that info but it's been a couple of years since I worked there so that may have changed. BG may be able to answer that better.

    In terms of ftb yes if you overestimate and at the end of the fy it turns out you should have got more ftb than you did you will get it in a lump sum. Please be aware however of the two components of ftb as this where I found alot of people got bills as for example their combined income was overestimated but the lower income earner income was underestimated therefore they still got a bill.

    You can also choose to get no ftb during the financial year and get it all at the end of the financial year if you are unsure if your estimate.

    Hope that helps .

  2. #2
    Registered User

    May 2009
    SEQLD
    2,308

    We always over estimate by at least 10% usually more.

    We claim everything at tax time just to make sure as well, but yes if you over estimate and get payments throughout the year come tax time you'll be paid the difference. And you should be able to call up and ask how much you were paid.