Donate Child Support Calculator
Skip navigation

Estimates - how to get it right or "why is there a double standard"

Hi Guys,

I made an estimate for 2013/14 earnings, as I hadn't completed my 2012/13 Tax.
The estimate was $112K, but just having completed my Tax, my C$A adjusted taxable income is $75K.

I received the huge wad of paperwork describing the changes from now until 30 June 2015 etc.

Interestingly the income estimate I made continues until 30th June 2014, then drop to the lower figure.
The difference is $300/month so not insignificant.

When i called, they suggested I could amend my estimate for the time period, now until June 2014, but no refund of the overpayment is possible.

I made the Estimate in good faith - under the threat of dire consequences (fines, penalties etc) if I underestimate.
It now turns out I had overestimated and overpaid.

A solution, I thought was to make the Estimate LOWER than actual by the same amount as I had over estimated and it'd work out as about right for the entire year.
ie $112K x 8/12 = $74.6666K
So I could estimate $0 for the rest of the year??

Of course they wont accept that - just willing to change it to $75K for the rest of the year.

Is the $$ truly gone?
Is there no way to retrieve it?

If the roles were reversed, there should would be!
Yes my friend. You have it interpreted correctly. If you overpay, it's gone. If you underpay, you owe. You can pursue the overpayment in civil court at your own expense.
If the other parent underestimates their income, you will also owe when you do your tax.

I can not believe that the C$A is run by the government and so overtly immoral and corrupt.  
Somebody once said that it's always better to underestimate. Better to have a debt than end up trying to recoup money that you've overpaid because they simply won't do it.
1 guest and 0 members have just viewed this.

Recent Tweets