INCOME - QUESTION 33
WHY IS IT ASKED?
Information on income provides an indication of living standards in different areas of Australia. This shows government and community groups where social services are most needed.
HOW TO ANSWER
Count gross income from all sources. Gross income is personal income before any tax, superannuation contributions, health insurance, amounts salary sacrificed or other automatic payments are deducted. Some examples of sources of income are listed on the form, but there may be others.
BUSINESS OWNERS AND SELF-EMPLOYED PEOPLE
If the person is a business owner, a business partner, a contractor or a self-employed person, please exclude all costs associated with running the business from the total income. The costs of all business expenses, such as building lease or rent, shop fittings, utilities, phones and stationery, etc should be excluded.
For example, if the person is a business owner:
Their Gross Personal Income = Business Income - Business Expenses & Costs
FAMILY TAX BENEFIT PAYMENT OR PARENTING PAYMENT
If a household member receives a Family Tax Benefit Payment or Parenting Payment, please include this amount in the income of the person who actually receives the payment. Do not include it in the income of anyone else.
NEGATIVE INCOME
Negative income refers to a self-employment, business (including farming) or rental property situation, where expenses are greater than revenue, resulting in an operating loss, and this loss is greater than any other income, benefits or allowances received from other sources.
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