| Author |
 Topic Search  Topic Options
|
Rachael21 
Senior Member
Joined: 01 January 1900
Location: New Zealand
Points: 4700
|
 Post Options
 Thanks(0)
 Quote  Reply
 Posted: 18 July 2008 at 3:12pm |
|
No thats not right Vanessa. How they should work it out is they work out how much you would earn on 80k a year for 11 months and then how much you would earn on 90k for 1 month and add them together. Thats how they have always worked it out for us.
I recently rung up to change details and she advised me to way over estimate our family income, seems a few people have been stung this year.
|
 |
|
Sponsored Links
|
|
|
jack_&_charli
Senior Member
Joined: 01 January 1900
Location: christchurch
Points: 7155
|
Post Options
Thanks(0)
Quote Reply
Posted: 18 July 2008 at 10:32pm |
|
everytime i rung up...which was probably about 3-4 times because DH would get a once off payment due to leiu hours, no one ever mentioned over estimating our income.......and i (stupidly i guess) thought that if we had set it at the right amount, then we would be fine...if anything, it would've been set about $1-2K over....so i'm really miffed about having a bill........was expecting a nice cheque seems we got one last year, but no.
oh well, at least it's only small and we have ages to pay it
you'd think, seems sooooo many people have been caught out this year, that they would re-think the system?
|
|
|
|
NovemberMum
Senior Member
Joined: 16 March 2007
Location: Hamilton
Points: 2574
|
Post Options
Thanks(0)
Quote Reply
Posted: 18 July 2008 at 11:44pm |
|
when we applied for it I put in my DH;s income for the 2007/08 tax year overestimating by about 5k (based on what he had earned so far plus a bit more) as it was over halfway through the year.
then we get told that they base the payments on what your income is from when your baby is born to the end of the tax year..so for eg if your household income is $30k from December to 31 March to get your average weekly income from that. so our payments went up.
then then then we get a bill saying we had been overpaid WTF!! turns out they do take your income from when your baby is born to work out the weekly figure then times that by 52 to get your yearly income
so for eg say your baby is born 18 October and your income till 31 March is 25k so thats around 24 weeks which works out to be just over $1000 a week so over a year is around $52k. where as we had been told it was based on 25k.
but anyway I sent a really long letter complaining cause they were the ones who stuffed as we had given them the correct information based on what they had asked us and well they had written it off...
least now it is the new financial year it will be easier to figure out how much we should be getting..will have to over estimate dh's income
|
|
|
|
Candkids
Senior Member
Joined: 03 April 2007
Location: BOP
Points: 2503
|
Post Options
Thanks(0)
Quote Reply
Posted: 19 July 2008 at 8:51am |
|
were not entitled to anything!!!
as they go on the money that comes "in" to the business, they dnt really care that our outgoings for the business are about 5x whats coming in, which sux
|
 DD 10.5yrs DS 6yrs DS 11mths 5 little angles watching from above
|
|
Shezamumof3
Senior Member
Joined: 14 April 2007
Points: 10096
|
Post Options
Thanks(0)
Quote Reply
Posted: 19 July 2008 at 9:44am |
|
Oh that friggin sucks!! Ive just applied for ours, but Im not going back to work until we have finished having kids.
|
|
|
|
ryan1900
Newbie
Joined: 19 July 2008
Points: 1
|
Post Options
Thanks(0)
Quote Reply
Posted: 19 July 2008 at 9:01pm |
I am a frequent reader of topics which is related to kids. I found that this a nice area for the one like me get interacted. Thanking everyone participated in the discussion.
===================================
ryan
Debt Consolidation
|
|
MrsMojo
Senior Member
Joined: 18 March 2008
Location: Wellington
Points: 8202
|
Post Options
Thanks(0)
Quote Reply
Posted: 19 July 2008 at 10:49pm |
Interesting blog Ryan, I've added it to my favs to read when I haven't had a wine (or two). Looking forward to hearing your thoughts on WFF.
|
|
|
|
cuppatea
Senior Member
Joined: 05 February 2007
Points: 7798
|
Post Options
Thanks(0)
Quote Reply
Posted: 20 July 2008 at 7:56am |
 catrad wrote:
were not entitled to anything!!!
as they go on the money that comes "in" to the business, they dnt really care that our outgoings for the business are about 5x whats coming in, which sux |
I've just spoken to my accountant about this, we have a rental that runs at a loss and a small business that is also running at a loss, she said it actually reduces our annual income, normally we wouldn't be entitled to anything as with DH's overtime we are over the threshold but because when they do the tax return his income is reduced by their calculations we can then claim.
Sorry I'm probably not making much sense, but talk to your accountant.
|
|
|
|
GRRR @ WFF
