IRD weird way of calculationg WFF
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Topic: IRD weird way of calculationg WFF
Posted By: NovemberMum
Subject: IRD weird way of calculationg WFF
Date Posted: 19 February 2008 at 8:24pm
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now according to their website calculator you put in your estimated income for the tax year..so we estimated my husband's income to be X amount for the tax year 1 April 2007 to 31 March 2008.
So according to the WFF website we get X amount per fortnight..ok sweet. but they actually calculate it from when your baby is born to the end of the tax year. so we are actually getting more. now I would have thought that they get you to estimate your yearly tax income and work out approx how much you get a week I mean lets say you earn $50k for the entire tax year or $25k from say october to april the amount per week still works to be the same. and we have been told this both by two different people so I just hope they dont end up sending us a bill. ------------- http://lilypie.com"> 
http://lilypie.com"> 
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Replies:
Posted By: mummy_becks
Date Posted: 19 February 2008 at 8:52pm
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I over estimate our family income quite a bit so we don't get the bill. And that way we get a nice refund as well. ------------- I was a puree feeder, forward facing, cot sleeping, pram pushing kind of Mum... and my kids survived! |
Posted By: mum2paris
Date Posted: 19 February 2008 at 9:18pm
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yeah we over estimate as well, sometime si do go over though since i can't determine exactly how much overtime i do. but usually bill is only $80 - $100. ------------- Janine and her 2 cool chicks, Paris & Ayja 
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Posted By: nikkitheknitter
Date Posted: 19 February 2008 at 10:02pm
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Yeah, they did something a bit strange with my income too.
I only just started working, but they take my annual income as what I have actually earned in the last 12 months so I get more per week than I would if I was paid WFF based on my current income. Ah well... it'll even itself out. I just hope I overestimated my income enough!! |
Posted By: peanut butter
Date Posted: 19 February 2008 at 10:05pm
| they told me the same thing....I hope it was right |
Posted By: ElfsMum
Date Posted: 20 February 2008 at 8:34am
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i am totally confused...for the payment for baby i worked till sept...but the lady told me to apply after 31 march and i will get the full 8 weeks of payments..which makes no sense as he will be 8 weeks old...? so i need to ring and sort it out.. but i guess according to what you said its from when baby is born to end of tax year so it sortof makes sense...the problem is what one person says or two might not be what the head people decide..it sucks:(! ------------- Mum to two amazing boys! |
Posted By: babyg
Date Posted: 20 February 2008 at 9:33am
Yep, i rung again yesterday (for the fourth time ) just to quadruple check that my income previous to baby's birth won't be calculated in this year's WFF tax credit and the woman said correct - it is only calculated from the birth of baby in baby's first year so my income prior to birth is not taken into account - YAY!!! So now three (of the four) IRD staff have told me the same thing! It was Monique Olsen who checked with her manager for me to get confirmation if anyone needs to quote me!
We just get it paid out as a lump sum at the end of the tax year so we don't have to estimate the income at all. It wouldn't work for us the other way around as my DH earns commission and we have no idea what we would earn in each year. Makes it hard weekbyweek but a fantastic surprise once a year  ------------- Ev, Mum to: Carys Ruby - 4 October 2007 Spencer James - 2 July 2010 |
Posted By: Candkids
Date Posted: 20 February 2008 at 9:33am
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yea it is totally bazar.
we get nothing well its basicly nothing $24 a fortnight or something wow. as if you own a business they go on the anual turnover, not weather its making a prophit or not. so even tho we may not be making a prophit and we are paying a lease and a morgage 2 phone bills and 2 power bills 2 internet bills, we still get nothing and something wrong with that i think. ------------- http://lilypie.com" rel="nofollow">  DD 10.5yrs DS 6yrs DS 11mths 5 little angles watching from above |
Posted By: Bubbaloo
Date Posted: 20 February 2008 at 9:53am
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They dud that with us too when I started back at work. ------------- http://lilypie.com" rel="nofollow">  Was danni-chick Mum to James My Angel 28/07/08 |
Posted By: babyg
Date Posted: 20 February 2008 at 10:13am
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That's disgusting Catrad! I wonder if they've been burnt by many business owners jigging their books to get the maximum payout in the past. That's just not fair on the honest ones who are just trying to get by huh?!?!? ------------- Ev, Mum to: Carys Ruby - 4 October 2007 Spencer James - 2 July 2010 |
Posted By: pekemoemum
Date Posted: 20 February 2008 at 2:30pm
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oh yes it's a good idea to to the 'get it asa a lump sum' so you don't underestimate and have to pay back money. We have overestimated by approx $10000 I think, so SHOULD be fine! :)
I remember after our first boy was born, they calculated it on our income, but they calculated it wrong (I didn't even try to calculate, just told them what we'd earnt so far, and that I wasn't working) and we had to pay back $600... which is pretty scary when you are earning a very small amount!!! so we've always WAY over estimated since then. ------------- Gina, Reef 15/6/03, Tyde 12/2/07 http://www.pekemoe.co.nz - Peke Moe - Unique NZ Made Baby Sleeping bags for babies who get out of swaddle/wrap |