Phone: (03) 9563 4688

Email: office@aubreypaton.com.au

Address: 17D Chester Street, Oakleigh VIC 3166

Latest Accounting News
Hot Issues
In case you missed it – The company tax Bill that did pass Parliament.
GST spotlight headed to smaller end of town
Superannuation Amnesty – Maybe! Maybe Not!
ATO drills in car-sharing focus this tax time
What is Bankruptcy?
Update of Australia's vital statistics
ATO speaks on risk factors, surveillance triggers for FY19
ATO’s corporate residency guidance cops backlash
ATO dispels top tax time myths to clients as clampdown rolls out
Tools for budgeting, cash flow, Super and more ….
Guidance for SMSFs on transfer balance reporting
ATO issues alert on super, tax scams
Salary sacrifice integrity
Understanding the evolution of blockchain and cryptocurrencies
Update to Australia's vital statistics
Tax Time Checklists- Individual, Company, Trust, Partnership and Super Funds
SMSFs - Our 'hardest' jobs
Tax Office reveals adventurous, dubious claims ahead of tax time
ATO reveals top tax time mistakes, set to contact 1 million taxpayers
Watch out for charges with incoming GST laws.
Super savings gap for women stuck at 30%
‘Wipe the slate clean’: Clients, accountants urged to use new amnesty period
Statistics for all Australians
Touch Payroll (STP)
‘Calm before the storm’: Government proposes 12-month SG amnesty
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Life Insuarnce Advocates

Finance & Borrowing - Barry Oxley of Leanding Specialists
Australian Securities & Investment Commission (ASIC) - Register of Charges Expires
Business Names Reform Update
New Restrictions on SMSF Investment in Artworks, etc
Employer Superannuation Obligations
JANUARY 2012 NEWSLETTER
Centrelink Benefits - How Work Affects Your Payments
Family Trusts - Complexity Increases, and so will costs
Do you need to lodge an income tax return?
Centrelink Benefits - How Work Affects Your Payments
You are probably aware that if you work, your Centrelink benefit may be reduced.  It is important to remember though, that if you received paid work, you will almost always be better off financially.






Even by taking up casual or part-time work you will improve your future job prospects, gain confidence, and increase your
work-related skills.  You may still
qualify for some payment while you are working. 


 


Fortnightly Income

Centrelink Payments Reduced by

$0 - $150 (plus $24.80 for each additional child) - this is called free area

Nil

Above the free area

50 cents for each dollar above the free area


 


There are incentives to keep working, known as:-


 


"Working Credit" - (Under Age Pension age)


and


"Work Bonus" - (Over Age Pensions age)


 


There isn't space here to explain them.


 


When your earnings reduce your payments


  • If earnings reduce the Centrelink benefit to
    nil, continue to report your earnings to retain your concession card
    entitlement for up to 12 week, and

  • Family Tax Benefit (Part A) or
    Child Care Benefit, will continue to be paid at the same rate during this time



 


As a Centrelink payment is considered taxable income, you may have to pay some tax if you start
work.


 


 





21st-January-2012