Acceptable evidence for verifying income when investigating debts 107-02040020

This document outlines what evidence, both verbal and written, is acceptable as income verification when a debt is being investigated. Once a debt has been identified, documentary evidence may be requested, for example, Questionnaire to employer (Q146), Reporting Statement (SU19) form, tax returns. Acceptable documentary evidence is needed before referring a case to prosecutions.

Acceptable income verification documents

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Item	Description
1	Accident insurance Details required: Name and address of insurance company Reference Number Details of award Lump sum return to work Entitlements to progress payments Period paid rate, amounts received, dates Option to receive lump sum Acceptable documents: Module C (Compensation and damages) Copy of the policy Letters/Payslips Contact insurance company in writing requesting full details
2	Compensation, damages, third party settlements Details required Amount Date of award from solicitor handling customer's case How disposed Terms of award Costs Acceptable documents Module C (Compensation and damages) Sight awards Bank accounts Contact compensation section, insurer and solicitor
3	Directorships Details required Amounts of Fees Nature of fees Customer's role in company Acceptable documents Module PC (Private Company) Statement from customer Company's tax documents Articles of association Memorandum documents Customer's tax return
4	Family Trusts Details required Name of trust Date set up Name and address of trustees Contribution to fund Assets and income of funds Business of funds Beneficiaries of fund Reason for setting up trust How past income was distributed Plans for future distribution Type of trust Acceptable documents Module PT (Private Trust) Copy of trust deed Copy of trust taxation return Copy of customers taxation return
5	Bank interest, annuities, shares Details required Name of financial institution, account number Current balance of account Date of maturity Acceptable documents Bank account Schedule Share Certificates
6	Overseas pension Details required Paying agency name and address Type of pension Commencement of payments Division of payments Rate in overseas currency Acceptable Documents Sight documents of grant Entries in bank account Statement from customer
7	Seasonal, casual or part time workers Details required Amount paid Period of employment Frequency of employment Name and address of employer Dates of employment Acceptable Documents Payslips Questionnaire to employer
8	Self employed, contractors and agents Details required Hours and involvement in business Nature of employment Net amount of annual income Person or company employing claimant Net amount of income after running expenses Acceptable Documents Income Tax Return and a profit and loss statement Use a Profit and Loss Statement (SU580) form or another form of verification if: the customer is not required to lodge does not produce an ITR in a suitable timeframe, or the ITR does not provide a reasonable indication of the income Another form of verification may include: Business contract Business account books Name and address of accountant
9	Wage and salary earners Details required Name and address of employer Dates of employment Gross weekly wage including allowances Date paid Acceptable documents Payslips Questionnaire to employer

Operational Information

Acceptable evidence for verifying income when investigating debts 107-02040020

Acceptable income verification documents