Centrelink Tax Implications

[Guest caoimhe]

Not sure if everyone is told this when they start getting payments from Centrelink but thought it was worth letting people know that are not here long enough to have filled in a tax return. Some money you receive from Centrelink is taxable income and Centrelink do not withhold the tax so once you do your tax return for 08-09 your Centrelink money will be added to your wages and tax will be liable.

If you are receiving money it would be worth ringing Centrelink and asking them to withhold tax so you don't get hit with a tax bill. Any overpayments will be paid back to you

[lorluc]

Sorry but i think this post is misleading............

 

Majority of people on this forum who are entitled to benefits, will probably be getting FTB & CCB.....which is not taxable

 

This link explains:

 

http://www.familyassist.gov.au/Internet/FAO/fao1.nsf/content/getting_started-how_paid-fortnightly-estimate_income-what_family_income-taxable_income.ht

[Guest kangomik]

Links not good Lorluc.

[lorluc]

ooops!

 

try this one...it lists the centrelink payments that are not taxable!

 

http://www.centrelink.gov.au/internet/internet.nsf/factors/taxable.htm#tax

[Guest caoimhe]

Sorry but i think this post is misleading............

 

Majority of people on this forum who are entitled to benefits, will probably be getting FTB & CCB.....which is not taxable

 

This link explains:

 

http://www.familyassist.gov.au/Internet/FAO/fao1.nsf/content/getting_started-how_paid-fortnightly-estimate_income-what_family_income-taxable_income.ht

 

I have just started a tax course with H&R Block and was told what I have stated is true, if I have misled anyone I am really sorry but I thought it would be better for people to check it out that be hit with an unwanted tax bill.

As I am on a temp visa this does not apply to me so I was only trying to help others, if I am wrong again I apologise

[lorluc]

Thats okay.......i was very concerned that some people would read this and panic.......

 

Not sure what H&R Block have told you........but might be worth showing them the centrelink page that i posted earlier.........of course the link that works!!!

 

I knew that there were some benefits that have to be declared as income, therefore liable for tax.....but not all..