Working for families help!
Printed From: OHbaby!
Category: Support
Forum Name: Budgeting
Forum Description: Want to save before baby arrives? Struggling on one income? Found some great ways to make your dollar go further? Share your thoughts & tips here.
URL: https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=39158
Printed Date: 27 November 2024 at 9:20am
Software Version: Web Wiz Forums 12.05 - http://www.webwizforums.com
Topic: Working for families help!
Posted By: Plushie
Subject: Working for families help!
Date Posted: 13 May 2011 at 6:24pm
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Next month i will return to work part time, working an average of 20 hours a week.
I just filled in the calculator on the website and it says: Your weekly payment Based on your details your estimated weekly payment is: Family tax credit$88.00 In-work tax credit$60.00 Minimum family tax credit$143.00 Total$291.00 So i would get $291 in total? Because that seems WICKEDLY excessive, i was expecting under $100. Surely i have worked something out wrong? I am a single parent and recieve $105 a week in child support. So in theory i could be earning between 200/300 a week + 105 child support + 291 WWF = 596/696 a week??? (equal too or more then what i would make working full time) I am 200% sure this is not true so what have i done wrong here? *i know the calculator is only an estimate but how far out can an estimate be!? |
Replies:
Posted By: Nothing
Date Posted: 13 May 2011 at 6:48pm
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Will you be earning under $22,000 this year? If so then it seems right from what I can see..... Might pay to give them a call tomorrow. If its true, then let me know as Im looking at work. ------------- 
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Posted By: Plushie
Date Posted: 13 May 2011 at 7:06pm
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I would assume i would be yes, my job is pretty poorly paid and i'll have been on the DPB for about 2 months of this financial year.
Wow, thats....extreme. But a good excentive for me to go back to work rather then stay on the dpb until my maternity leave runs out. |
Posted By: _SMS_
Date Posted: 13 May 2011 at 9:18pm
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Also double check, do they take child support into consideration as part of your wage?
But yes it seems right. Id ring IRD and get them to work it out for you. Then you'll know its correct  -------------  
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Posted By: Plushie
Date Posted: 14 May 2011 at 7:33am
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I don't know, it was a seperate box on the calculator (ie. estimated wage here, child support here)
I hate ringing IRD (grumble grumble) but will get onto it! Thanks :) |
Posted By: minik8e
Date Posted: 23 May 2011 at 10:22am
| It does seem high to me as well. The $200/300 per week wages - is that gross or net? If it's net, you need to work out the gross figure. |
Posted By: Nothing
Date Posted: 23 May 2011 at 10:28am
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How did you get on Bowie? -------------
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Posted By: Plushie
Date Posted: 23 May 2011 at 7:33pm
Its gross at $300 Minik8e. The woman on the phone said the calculations were right but advised me to be careful especially as my hours fluctuate and i might accidentally get overpaid and then have to repay it all  . Her advice was to get it all in a lump sum but can't really afford to not get the extra cash a week even if its much less then that IYKWIM?
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Posted By: Nothing
Date Posted: 23 May 2011 at 8:15pm
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I would work out what you would earn if you were to work all the hours all the time, then add a thousand and tell them that is going to be your earnings. That way if you work less you will be okay. And you can sign up to the online services to watch your income, and you can change your end of year figure at any time. -------------
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Posted By: Nothing
Date Posted: 23 May 2011 at 8:18pm
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oh and the minimum family tax credit is only paid so that you dont fall below $20,000 or so, however you have to work 20 hours a week to get it, so you might want to ask what happens if you work less than that some weeks. -------------
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Posted By: WestiesGirl
Date Posted: 23 May 2011 at 11:00pm
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Im also one in the camp to over estimate as well, even if its only $1 or $2k. This way you will avoid any possible over payments and having to pay any money back.
We arent entitled to anything here in Aus now but when I was estimating ours when I was on Mat leave I worked my income out plus $5k and the same with DH, his income plus $5k. That way, the weekly/fortnightly payments are there to help you get by and then also a lump sum at the end of the tax year  ------------- Our Angel July 08  Gone but not forgotten
And to complete our family, our princess has arrived 
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