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ok well DH is thinking of starting a business so im just wondering how does CL find out about how much he is earning or do i have to report his earnings? because he will most likely go off his payments coz he will be earning money and i will also have to estimate to FAO aswell i was just wondering wat happens with my PPP thanks in advance
if he starts a business, you will hve to do a profit and loss statement (projected) for three months. after those three months, you do an actual profit and loss for those first months, and then a projected profit and loss for the next three. after six months, you do six months in arrears (actual), and three months more in advance. after 9 months..... until you've done a full financial year of the business, you'll keep providing profit and loss statements and it will be based on that.
If you think you can live without FTB payments, you can always elect to have it paid at the end of the financial year once you have done your tax. We considered doing that but decided we couldn't afford to, so after talking to FAO we decided to over estimate our projected income. Hopefully we'll get a nice lump sum back in a few weeks :)
with FAO it's a lot easier cos you just guess, and if you underestimate, you get the opportunity to fix it - with PPP it's much harder...
so basically its going to be fun lol not
not at all
but it won't take long before you know the system inside out!