Statement of earnings

Barry is keen to find out if he needs a statement of earnings from Centrelink.

Centrelink, statetment of earnings, age pension, pension

YOURLifeChoices Subscriber Barry is keen to find out if he needs a statement of earnings from Centrelink.

Q. Barry

I am receiving the Age Pension. Do I need a statement of earnings from Centrelink for my income tax return?

Provided by Centrelink

If you get a taxable payment, for example Age Pension, Centrelink will send you a Payment Summary at the end of the financial year. You should allow until the end of the third week of July to get your Payment Summary in the mail before requesting any replacements.

If your only income during the financial year is your taxable pension or allowance from Centrelink, there are tax offsets to ensure that you do not have to pay tax. If you get a pension and you have other income below the income free area, you are also not liable for tax, except in very special circumstances.

If you are affected by these circumstances, you will be told when you get Centrelink's PAYG Payment Summary - Individual Non-Business (formerly known as a group certificate).

Find out more information on Paying tax on a payment from Centrelink.





    COMMENTS

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    MrsB
    13th Jun 2012
    7:19pm
    I am so grateful to Life Choices for keeping us informed with all the information regarding Centrelink. I have had two of my concerns answered without having to go to Centrelink. I have $30pf taken out of my pension each fortnight as I also receive two pensions from my super fund, it is just a buffer in case I have to pay tax, so thank you again about the Tax assessment to be received by Centelink.


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