Income estimates for centrelink, how do you calculate them?
Do you calculate total you get for the financial year x26 or x52? I can never remember how to do it.
Income estimates for centrelink, how do you calculate them?
Do you calculate total you get for the financial year x26 or x52? I can never remember how to do it.
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3 Replies
Depends how frequently you get paid, as to whether you do x26 or x52. It’s always better to over estimate so that when they balance everything at the end of the financial year you’ll get something back rather than you owe them. And don’t forget it’s based on your gross payment, not what actually goes into your bank account.
Total for year is total income. Pay per fortnight times by 26 fortnights. Pay per week times by 52 weeks in a year. Make sure you estimate gross pay. And add all the other types on income on the list.
Times by 52 then add another 5-10k on it to cover you any extra you may get