ok so i have a casual job and everyone else that works with me that gets cl payments report fortnightly so i rang and asked if i could do the same because it is so hard to put a estimate for the yr and i was told that because i have my kids in daycare and havea % that i cant report fortnightly but the other ladies i work with have their kids in and have a % too so i dont understand y i cant report fortnightly but they can.
i get family tax A and family tax B and carer allowance. i estimate for hubby each yr.
Sassy123 they would be reporting fortnightly because they would be in receipt of another payment as well as FTB. You can by all means update your estimate each fortnight but that is really only going to be time consuming. I think you would be best to sit down and look at your income for both yourself and her hubby and really look at your casual income as you don't won't to underestimate as you may end up with an overpayment for your FTB B as that is paid based on the lower income earners income.
The centrelink website has an online estimator I suggest you use that and put in different figures, it will show you what you will receive for your FTB A and B, which will help you see the difference and potential overpayment if you have underestimated.
Obviously if you overestimate when you do your tax at the end of the financial year anything owed to you will be topped up.
I dont mind doing a yrly estimate but it just get hard because i have 2 casual jobs. the 1st one i am a releif family daycare carer so only work when someone is sick so i never knwo when that can be and my 2nd job is at a function place so same thing i never know how many weddings or other functions will be booked throughout the yr. i have estimated 10k this yr cause i only made about 6 last yr but i am already gettin close to that but the first part of the yr is always quiet with the weddings so it is so hard lol.
those that report each fortnight are reporting exact income for parenting payment hun - they still have an estimate on the system for ftb as well - but they wouldn't change that one very often.
if you're nudging close to your estimated income, change it NOW - the last thing you want to do is go over. if you are receiving both a and b for ftb, and you underestimate the lower income, you can be overpaid as much as 40c for every dollar you underestimate (20c part a for every dollar, 20c part b) - so you need to estimate
assume your good weeks will be your every week - and estimate accordingly. if you have a few bad weeks early in the year, you can drop it again but you don't want to assume they'll be crummy and end up with good weeks - and then end up with a nasty debt
reporting fortnightly
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