Just wanting to ask if anyone has had any experience with this. I got early super release on compassionate grounds for surgery I needed in the last financial year. I was taxed appropriately on the amount withdrawn. I have now however received a letter from Centrelink saying I owe them a significant amount of money as I had received family tax benefit a and b. The super amount released counted towards my annual income (however used for surgery and already taxed) does this sound correct ? I’m so stressed about this and will be really difficult to pay even with the payment plan.
3 Replies
Have you run a tax adjustment where you declare it? I have a feeling it does count as income but if you’re low income then you should also get some of the tax back. Run a tax adjustment on line and check.
Yep it’s classified as an income. Give Centrelink a call and advise the situation
Yes it’s correct, it’s classified as income. If you didn’t update your income estimate with Centrelink unfortunately you have to pay back what you if owe.