thread: Q about FTB top up and income estimates.

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  1. #1
    Registered User

    Dec 2005
    In Bankworld with Barbara
    14,222

    BG, i wasn't getting any part B because of my estimated amount which was $55K. my actual income was under $2000 (as I said it's complex because of the farm). Dh on the other hand had an income estimate that was nearly $32k less than what his actual income was - so because we grossly underestimated his income, but we're still under the combined family income amount I just don't know if that means we incurred a debt or not. It was only the minimum part A anyway.

  2. #2
    Registered User

    Dec 2006
    In my own private paradise
    15,272

    No debt by the sounds if it. Big ftbb top up coming.

  3. #3
    Registered User

    Dec 2005
    In Bankworld with Barbara
    14,222

    Oh sweet! I'm terrified of getting a debt. this time because our business structure had changed I had no idea how it would turn out. I don't care if i don't get much of a top up (nice if I do though) just so long as I don't get a debt.

    thanks BG

  4. #4
    Registered User

    Dec 2006
    In my own private paradise
    15,272

    no probs
    make sure you update your estimate for this year now to change the balance - the system will get his actual income and update to that +5% but won't reduce yours and it may cancel as income too high - so drop yours and update his to about what it was this year so the system doesn't automatically do it. even if you cut the 32 off yours (so sit it at 23 or 25 even) and add it to his so your balance is close to what the total was now, with a better balance. (geez i hope that makes sense - am typing from my phone and waffling around a sleeping poppet!)

  5. #5
    Registered User

    Dec 2005
    In Bankworld with Barbara
    14,222

    yeah, you're making sense. trouble is with farming is that you have no idea what your income will be until December once the crops have been harvested, but we've done that now and sold what we're selling so we will have another look at it in the next week or so. The way they automatically adjusted it for 12/13 was stupidly high, but we left it like that as a safeguard or sorts.

  6. #6
    Registered User

    Dec 2006
    In my own private paradise
    15,272

    Even with no idea of income it's best to increase him and drop you for now so the system doesn't just add to him and cancel you off.