Underestimating income

[Arimeh]

Ok it appears that I underestimated DH's income but I'm not how to work out how much we owe, as his income changed through the year cos of overtime paid.
For 1 month I overestimated about 10 grand, but for the other 11 months I underestimated $500.

Plus - for 1 month I had my income as 4,000 and for 11 months had it at 1,000 but I didn't earn anything - so will that cancel out the $500 I underestimated?

Not sure if they are the same or not.

Cheers!

[Pandora]

Yours will impact ftb b
His will impact ftb a

If you know your estimates and actuals, check out the online estimator

ETA
I re read your post. So to be clear,
You overestimated 1 month by 10k
You underestimated 11 months by $500 per month?

That would mean you overestimated by $4500 all up? So you should be fine in that case??

[Beautiful Disaster]

I'm scared I underestimated hubby income by 10k but I was only getting PPL and $52fn ftb b

[Beatrix]

I'm pretty sure it goes on the whole year.

So by what you have said you over estimated by alot more the. You underestimated.

10k over

500 x 11 = 5500

So you should still be overestimated by $4500?

That's how it worked for me. If DF worked heaps of overtime I just upped the estimate as it was a yearly estimate which you FTB is don't on.




Sent from my iPhone using Tapatalk

[briggsy's girl]

Mel it should be fine hun
the 1000 you put down for you will counter his 500 underestimate for part a (part a is combined income).

[Arimeh]

Nah it was $500 for the year - for the 11 months I estimated 63 and got 500 more than that.

Thanks guys (and bg!!xxxx)

[briggsy's girl]

you're welcome