Can anyone advise me if this is right?

Ok so the story is...

At the beginnning of the year I updated my income to show that I was now working for myself (sole trader). After talking with CL about a month ago they informed me that I had only informed one dept (or something like that) and it wasnt' the same...blah blah blah long story short they didn't know I was working, will have a debt and my money will go down. So I have to do a Profit and Loss, a Balance Statement and things like that.

So I have that all finished (I think) I went to an accountant who was crap, have since found out I can claim more than he said and he was also claiming things I shouldn't. He charged me $265 for the honour of that so i'm too scared to go back to him in case he charges more. So i'm doing it myself :/

Anyhoo my net profit for the last 6 months is down to $147.50 a week. I was told i'm allowed to earn $70 a week?? Then lose 50c in the $ after that. So for the last 6 months I should have been gettitng about $77 a fortnight less than I have been...is that right? So debt should be...about $2k is that right?

BUT...I have decided to just pack it all in :( I've lost some classes because I am not certified (long story but they are holding my classes for me - should be off for about 6 weeks) and if i'm pretty much working for half the price...I don't think I can be bothered :( At best I might just do 3 classes a week which after all my expenses means i'd prob be losing money :doh:

So If I do stop working, will CL look at the profit I earned over 6 months, over the year instead? Or would I have to pay the debt but then at the end of the year when it's averaged out get some money back?

It's so confusing, I hate this crap...just want to pack it all in :(

Not sure if anyone can give me advice, or if any of this makes sense...TIA and thanks for just listening!!

:hug: Oh hun wiosh I could help out but have no idea...maybe ring centerlink and ask them? Or maybe BG will beable to help?

I am so sad your packing it in :( I wanted to do a class with you :(

for parenting payment, it will look at your income over six months, annualise it, and work out any debt from there. self employment is messy so i can't say for sure what the outcome will be sorry hun.

No idea re CL issues...

But sending you MASSIVE certification vibes hun!!

xoxo

Thanks guys x

BG it is a 6 month period that i'm giving them...because i've only just found out I have to do it and went self employed in July...do you think I should make an app and explain to them or just hand in the forms and hope for the best?

always best to give too much info babe