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Recording other income on the Other Income (OIN) screen 108-05020010

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Example

Item

Description

1

Coding income to be assessed in the period of receipt

Some types of ordinary income are assessed only in the entitlement period in which the income is received (in the period of receipt). Usually this will be for 14 days, however, if the entitlement period is a short period, then the income is assessed for the number of days in the short entitlement period.

To code income to be assessed in the period of receipt on the Other Income (OIN) screen:

  • Determine the number of days in the entitlement period in which the income is received
  • Multiply the daily income amount by 14
  • Record the amount using the '2WE' - Two Weekly income frequency
    • Where the entitlement period is a short period, the amount recorded will be more than the value of the income actually received, however the correct amount of income will be assessed for each day of the short entitlement period
  • The event date for the coding is the Entitlement Period Start Date (EPSD) of the period in which the income is received

Note: the income must be ceased from the following Entitlement Period Start Date (EPSD) to ensure that the income is only assessed for one entitlement period.

Full length entitlement period example:

Entitlement period dates are 1 April to 14 April (14 days) and income of $1,400 was received on 10 April.

  • Event date is 1 April
  • Amount is the actual income amount of $1,400 as the entitlement period is 14 days long
  • Frequency is '2WE' - Two Weekly
  • Income ceased from 15 April

$1,400 will be assessed across the entitlement period.

Short entitlement period example:

Entitlement period dates are 8 April to 14 April (7 days) due to a new claim granted part way through entitlement period and income of $1,400 was received on 10 April.

  • Event date is 8 April
  • Amount is $2,800 as the entitlement period is 7 days long ($1,400/7 x 14 = $2,800)
  • Frequency is '2WE' - Two Weekly
  • Income ceased from 15 April

Even though the amount recorded is more than the income received, only $1,400 will be assessed across the entitlement period ($200 of daily income for 7 days).