PPL estimates? Help please

[Marley&Me]

I am filling out my PPL online and it is asking me for estimates for the upcoming financial year being July 2013 to June 2014. How is this possible? I know it's just an estimate, but I can't even do that. I am leaving work around June 10th and possibly going back around mid January. But I will have absolutely no clue how many days let alone how many hours! And my DH is the same. He will be changing employers by July this year and goodness knows what he will be earning.

How do they expect you to estimate basically a whole year in advance????

[briggsy's girl]

You have to guesstimate. Everyone that is claiming ftb has to guesstimate every financial year. Assume that you are going back to work at x time (jan if that's your circs) and work out how much you'd earn if you did. Don't forget to add your ppl to your estimate.

And you are gonna have to get used to estimating. Unless you can survive without ftb, you will have to get used to estimating your incomes.

[Marley&Me]

Wow, that is going to be near impossible And if i end up earning more than I estimate I will have to pay back money to CL. I don't know much about ftb so don't even know how much you get.

Thanks BG.

[chody47]

I've got no idea if this is possible, but I assume it would be as I'm sure lots of people's circumstances change throughout the year, but maybe make an estimate based on going back to work in Jan and using your DH's average wage and then just ring and update as soon as you think your estimate looks like being wrong. I'm sure you could do it a few times if needed. Maybe keep track of income and update every few months if its off??

[briggsy's girl]

There are people that estimate based on a base wage and then they work overtime so jump online and update a thousand extra. Some people update once a month as their circumstances change. I would generally suggest looking at best case scenario in terms of wages and work it out from their (so best wage you could expect) and then get a too up at tax time.

The only other option is to not claim ftb until tax time. But honestly, given previous posts regarding your financial situation I would assume that's an idea you can't afford to entertain at this stage.

I will suggest to try and always estimate higher than you think you will get. Of you estimate low and then earn more you may get a debt a t tax time. Or when you update your estimate you will have a big reduction in payments.

[Marley&Me]

Thankyou ladies

Ok, last night my friend told me that it will only affect the payment if DH and my annual income is higher than $150k. Which it isn't. Is this right?
If so i could just put the same as this years and it wouldn't make a difference. (unless by a miracle DH lands a fabulous high paying job in July when he gets his license back )

[Catastrophic]

You can change your estimate during the year.... So use what your hubby will earn this year as a guesstimate - and then what you will earn this year just halved...

So say DH will earn 50,000 and you earn 50,000 this year put it as 75,000.
If in July DH lands a job with a 75,000 put it up to 100,000.

[Marley&Me]

I called centerlink earlier and they said to cancel my PPL claim and start a new one without the family tax included. Then after the financial year I can apply for the family tax when we know a bit more about our circumstances.
They also said that the cut off for ftb payment to change was $94k, so yeah $150k was way off.

So I guess i will just apply for ftb after bubs is born instead. At least that way we will have a better understanding of what DH will be earning.

[MissM]

I think there was an option to receive FTB once ppl ends, as you can't receive it while claiming ppl? I could be wrong though?

[bella12]

You can still get FTB A if you're getting PPL but not FTB B. another option would be to claim FTB but opt to receive a zero rate (or base rate) of payment and once you both do your tax returns the correct amount of FTB payable to you will be worked out so that will reduce chances of getting a debt.

[briggsy's girl]

You can still get FTB A if you're getting PPL but not FTB B. another option would be to claim FTB but opt to receive a zero rate (or base rate) of payment and once you both do your tax returns the correct amount of FTB payable to you will be worked out so that will reduce chances of getting a debt.

This is an option. But you will still need to estimate and have a reasonable estimate on your file if you do this.

[Marley&Me]

In July my DH will get hi license back. So when he starts a new job, we will know what his annual income will be. My income will be relatively easy because I am only going back part time and not until end of Jan. I already submitted my PPL and I'll do the FTB after the FY.

Question - Will I get back pay for FTB if I claim after the FY?

[briggsy's girl]

Yes. Ftb is an annual payment which the government pays fortnightly to help people when they need it. No matter the payment choice you make you will get the same ftb entitlement if the course if the year

[Marley&Me]

Thanks again BG