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Internships 2008/09 (1 Viewer)
- Thread starter Conspirocy
- Start date
Re: internships 07
For students and Australian Apprentices, fortnightly income between $236 and $316 reduces fortnightly allowance by 50 cents in the dollar. Income above $316 reduces payment by 60 cents in the dollar. For students and Australian Apprentices the income test is subject to income bank credit.
from what i understand, you can continue earning it when you finish work
For students and Australian Apprentices, fortnightly income between $236 and $316 reduces fortnightly allowance by 50 cents in the dollar. Income above $316 reduces payment by 60 cents in the dollar. For students and Australian Apprentices the income test is subject to income bank credit.
from what i understand, you can continue earning it when you finish work
Re: internships 07
10th dec: week 1
17th: week 2
2nd: week 3
7th: week 4
14: week 5
21: week 6
28: week 7
4: week 8
11: week 9
18: week 10
25th feb: week 11
There's eleven weeks they can hold it during. I'm assuming they'd give christmas week off along with the week after, and have the program go until late feb
they said it was for 10 weekshavy said:btw, you've mentioned that the colonial program is 10 wks....does it hav a 2 week xmas break? in that case it will be a 8 wk program, unless you'll be paid in that break too
10th dec: week 1
17th: week 2
2nd: week 3
7th: week 4
14: week 5
21: week 6
28: week 7
4: week 8
11: week 9
18: week 10
25th feb: week 11
There's eleven weeks they can hold it during. I'm assuming they'd give christmas week off along with the week after, and have the program go until late feb
Re: internships 07
the remaining 40c in the dollar is still better than nothing...although i do remember something like earn more than $460 a fortnite = no centrelink payment :mad1:
oh yeah centrelink will start paying you again once you finish the casual work.
yeh i hope that i can still get some amt of allowance during my internship...I'll probably use up all my offsets (income bank credit?) b4 the internship finishes.stazi said:
the remaining 40c in the dollar is still better than nothing...although i do remember something like earn more than $460 a fortnite = no centrelink payment :mad1:
oh yeah centrelink will start paying you again once you finish the casual work.
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Re: internships 07
lets do a forecast:wave:
assume you earn $800 a wk during your internship, so thats $1600 per fortnight.
at the same time your income bank increases $200 per fortnight, therefore the net change to the income bank balance is $1400 debit per fortnight.
you'll start with $6000 in the beginning,
and by the end of wk2 u'll hav $4600 offsets left
between wk2 and 3 is xmas holidays - no salary and net gain of $200 offsets for the fortnite: $4800
end of wk4 $3400
end of wk6 $2000
end of wk8 $600
end of wk10, offset reduces to zero, will miss next fortnight centrelink payment if you earn more than $460
in that case you will only miss allowance for one fortnite, u'll start getting allowance again once you finish work.
lets do a forecast:wave:
assume you earn $800 a wk during your internship, so thats $1600 per fortnight.
at the same time your income bank increases $200 per fortnight, therefore the net change to the income bank balance is $1400 debit per fortnight.
you'll start with $6000 in the beginning,
and by the end of wk2 u'll hav $4600 offsets left
between wk2 and 3 is xmas holidays - no salary and net gain of $200 offsets for the fortnite: $4800
end of wk4 $3400
end of wk6 $2000
end of wk8 $600
end of wk10, offset reduces to zero, will miss next fortnight centrelink payment if you earn more than $460
in that case you will only miss allowance for one fortnite, u'll start getting allowance again once you finish work.
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Re: internships 07
well I'll be earning $780 gross per week = $1,560
income threshold: $236 per fortnight, therefore net change to income bank balance = $1324 debit/fortnight
Week 2: $4,674
Week 4: $3,348
Week 6: $2,022
*Week 7 and 8 have no pay, thus income bank balance increases to $2258. however, this probably means the program actually runs for 12 weeks in total (10 paid)*
Week 10: $932 balance remaining
Week 12: exceeds balance by $394, which means centrelink payment is 40% of what I normally get.
well I'll be earning $780 gross per week = $1,560
income threshold: $236 per fortnight, therefore net change to income bank balance = $1324 debit/fortnight
Week 2: $4,674
Week 4: $3,348
Week 6: $2,022
*Week 7 and 8 have no pay, thus income bank balance increases to $2258. however, this probably means the program actually runs for 12 weeks in total (10 paid)*
Week 10: $932 balance remaining
Week 12: exceeds balance by $394, which means centrelink payment is 40% of what I normally get.
Re: internships 07
on the other hand, my offset balance is far less than $6000 at the moment...so i'll probably run out of it early and miss at least one or 2 fornite payments:mad1:
overall I dont think u'll miss out on much payments anyway, maybe $200 max...which is really not a problem.stazi said:
on the other hand, my offset balance is far less than $6000 at the moment...so i'll probably run out of it early and miss at least one or 2 fornite payments:mad1:
Re: internships 07
i think it also depends when does your fortnite start, ie. maybe one fortnite starts one wk before your work so it includes one wk without work and one wk with work...that'll affect your offset schedule.stazi said:
Re: internships 07
ps. I have mistakenly believed that wk6 and 7 will start on 21st and 28th of December, but they are actually in January, so thats not your xmas break, the actual break is between wk2 and wk3, which starts on 22/12 and you gotta be back to work on the 2nd.
just took a look at it again...doesnt uni start on the 25th of feb? how are u gonna cope with working then?stazi said:
ps. I have mistakenly believed that wk6 and 7 will start on 21st and 28th of December, but they are actually in January, so thats not your xmas break, the actual break is between wk2 and wk3, which starts on 22/12 and you gotta be back to work on the 2nd.