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No biggie, was expected.
Because he's a sub contractor we pay tax every quarter based on the previous yrs income. last yr we got a decent tax break which obviously put his income as lower, hence not paying enough tax this yr and owing.
My question is, will this money come off my centerlink supplement?
If his total taxable income is higher than your estimated income, then yes, you will incur a debt and it will come out of your supplement payments. Forgot to add that even though he is paying tax this year, if his income is still less than the estimate then you will still get the supplements
I over qouted his income by about 18000 so we werent over payed by centerlink. we just underpaid tax IYKWIM? its all so confusing!
Thanks trill
It is confusing, but you should be right and not get a debt.
you shouldn't get a debt, and your supplments/top up (if any) should go to you as long as ftb is in your name
Yay thanks BG, ive already spent the money in head on the new baby, so was sad to think i wouldnt be able to get wat i really wanted
This has happened to us before. We just got a bill for the underpaid tax, and a date to pay it by. There was no suggestion to reduce my FTB, but I only got it annually so there were no regular repayments to reduce IYSWIM.