thread: loan and centrelink question??

  1. #1
    Registered User
    Add Daffodil Mumma on Facebook

    May 2008
    Rural NSW
    316

    Question loan and centrelink question??

    So afew years ago I loaned my sister quite abit of money to help her get out of a bad relationship. Now she is finally settled and in a position to start paying it back. She suggested she could put money in my account every fortnight when she gets paid. Im currently getting FTA & B payments and rent assistance and Im just wondering if I need to report the money from my sister.....I mean its not like its an income, it was my money to start with lol. Do you think I would need to explain this to them or is it a case of its my account my business?? My sister suggested she put the money into my son's account instead and I can use it just for emergencies, but I dont want to do that if its likely to look like Im hiding it from centrelink in the future.

  2. #2
    Registered User

    Dec 2006
    In my own private paradise
    15,272

    as long as it's not a taxable income in the eyes of the ATO it is not of concern to FAO for ftb purposes hun

    the only thing is if you're earning interest on it (if it's a large amount) you'll need to let the ATO know when you do your tax

  3. #3
    Registered User
    Add Daffodil Mumma on Facebook

    May 2008
    Rural NSW
    316

    Awesome thanks!!! It will be a large amount in the end...but I will have spent it before it becomes large lol. At this stage I think she will only be paying about $100 per fortnight