etax and centrelink...help!

[Madissun]

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im trying to do my tax online. does anyone know if you have to pay tax on the parenting payment? my centrelink tax summary says that i didnt pay tax on it and now in my estimate, im paying tax on it?? And losing about half of my return?

[Indadhanu]

Yep, you have to pay tax on it now because there wasn't any tax paid on it throughout the year because Centrelink payments are taxable and classed as income, like if you were getting other Centrelink payments. Or at least thats my understanding of it, I have to pay tax on my Centrelink payments as well. Hope it doesn't hurt you too hard

[Madissun]

Thanks Leasha! Just been on the phone to the ATO and FAO! OMG they do your head in! I was telling THEM stuff that i've learnt from BG!! Aaaaaaarrrrrrrrggggggggghhhhhhhh!!!!

[briggsy's girl]

hehehe - hope you didn't throw my name in as the informant!!!


and yeah, Leasha is right - very few income support payments from centrelink are non-taxable - but you're not automatically taxed on the payment. you can request to have tax deducted though (and i'd suggest if you're currently working casual, you might be well served to arrange deductions for the current financial year)

BG

[Indadhanu]

you can request to have tax deducted though

I was just coming back to say that... I think we should start a fund for BG coming and answering all our questions hehehe.

K - if you're registered with the online service on Centrelink you can go on there to get tax taken out, I *think* its under deductions or something like that (just to save waiting on hold lol).