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Post by mspurple on Nov 23, 2022 7:24:50 GMT 7
Sorry for being lazy as I know the answers are here the forum somewhere but my brain is really functioning quite poorly at the moment and every time I attempt to do a search I either become sidetracked or I simply forget exactly what I was searching for.
I have been trying to find the exact amount of money that can be made each week without it affecting your DSP as I have a small side hustle that is sometimes making more than I expected.
I would also like to know how fiddly or difficult reporting your weekly earnings to clink is, it used to be a horrid nightmare for me years ago when I was on a carers and also parenting pension and I had to report my weekly earnings from a few casual jobs I had. When I was on Carers and PPS Clink used to want me to tell them what I would be earning before I actually earned it and then alter that amount if it was incorrect after being paid- it was always a bit of a hassle, time consuming and stressful estimating the unknown and it saw me out of pocket quite a few times till the following week which would now be a larger problem for me as 1) I do not get weekly payments like I did when on PPS, and, 2) I get a lot less money to live on with the DSP than I did with PPS so there is literally nothing left for me to save and have a back up to tide me over if clink alters my payment
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Post by blahblahblah on Nov 23, 2022 9:01:18 GMT 7
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Post by latindancer on Nov 23, 2022 11:01:10 GMT 7
Crikey....that's per fortnight. Only $ 95 per week. Doesn't really encourage you to work, does it ?
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Post by mspurple on Nov 24, 2022 11:00:59 GMT 7
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Post by tasjo on Nov 24, 2022 18:56:31 GMT 7
if the income fluctuates you may be better off with an ABN and declaring your income as a sole trader... you can generally nominate to report profit and loss on a much longer frequency (monthly or quarterly or sometimes even annually) than as a 'payg' employee. It also enables you to take off your expenses straight away - and you then only lose what you have genuinely made as profit. If you dont make an income one quarter, you dont lose anything. If you do use this method though, there is a difference between the ATO and Centrelink. The ATO will allow the business to make a loss, Centrelink doesnt - the lowest in terms of profit/loss is $0 for Centrelink
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Post by mspurple on Nov 26, 2022 11:13:04 GMT 7
if the income fluctuates you may be better off with an ABN and declaring your income as a sole trader... you can generally nominate to report profit and loss on a much longer frequency (monthly or quarterly or sometimes even annually) than as a 'payg' employee. It also enables you to take off your expenses straight away - and you then only lose what you have genuinely made as profit. If you dont make an income one quarter, you dont lose anything. If you do use this method though, there is a difference between the ATO and Centrelink. The ATO will allow the business to make a loss, Centrelink doesnt - the lowest in terms of profit/loss is $0 for Centrelink Thanks tasjo, this sounds like a more suitable option for what situation I am looking at but it also sounds like much more record keeping and paperwork which I am not confident I am capable of anymore. I wish I knew exactly what was involved so I knew whether or not to move forward- I am terrified I will stuff up and be in a worse spot for trying.
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Post by tasjo on Nov 26, 2022 13:32:07 GMT 7
Happy to give you some pointers via pm, mspurple - it's actually a whole lot less than the fortnightly reporting if you do it from the start.
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