If you need more information or want to discuss this in more detail contact us.
Self-employed, sole trader or business income
If you're getting a benefit or payment from us and you earn income, you need to let us know. The amount you earn will affect how much we pay you.
Note
You need let us know the week you earn the money, not when you've been paid. We need to know by Friday 6pm. If you're working the weekend, include this time too.
If you don't tell us, we'll keep paying you the same amount week after week. This could be too little or too much, and you could get into debt. Tell us every time your income changes.
Work out your income
We need to know the following:
- your total income before tax or any other deductions
- any business expenses you want to deduct from your income
- the number of hours you worked that week
- your hourly rate (if applicable)
- when you earned the income (not when you were paid).
Please note, the expenses you can deduct from your income can be different for benefit purposes than it is for tax purposes. We'll discuss this with you during your appointment (see below section ‘How to tell us’ under ‘step 2’).
Make an estimate
If you don't know what you'll earn, tell us what you think it will probably be.
For example, you may need to do this if you work on the weekend.
We may still pay you too much or too little. But your debt will usually be less than if you don’t declare any income.
Starting a new job
If you start a new job we also need to know:
- who you work for (this could be more than one employer or yourself)
- when you started work.
How to tell us
We need to know your income the week you earn it, even if you’re paid:
- fortnightly
- monthly, or
- on an irregular basis.
Step 1 - Declaring your income
The easiest way to tell us your income is through MyMSD.
MyMSD
Select 'Declare wages' and then 'Self-employed’ for self-employed, sole trader or business income.
For anything else (eg interest and investments), or if you're unsure, choose 'Change other income'.
If you can't use MyMSD
If you can't use MyMSD you can call us or come into one of our service centres.
If you’re declaring income from self-employment, make sure you mention you're self-employed.
Step 2 - We’ll contact you
We’ll contact you and explain if there’s anything more you need to do.
If we have everything we need, we may be able to help you over the phone.
However, there may be times we need you to come in for a face-to-face appointment.
Documents we need
You'll need to provide either a:
- IR3 – Individual tax return, or
- profit and loss account
and either a
- IR3B – Schedule of business income, or
- IR10 – a financial statements summary.
We’ll tell you the best way to get your documents to us when we talk to you (see 'How to tell us').
If you don't have these forms, or we need more information, we may ask you to provide:
- your full set of accounts, or
- a personal declaration.
Help to prepare your accounts
It’s important we have the correct income information. If you need help preparing this, support is available online and in the community.
The Inland Revenue website is a helpful place to start.
Self-employed (Inland Revenue)external
Record keeping (Inland Revenue)external
For help in the community, see the Family Services Directory.
Budgeting/Financial Capability (Family Services Directory)external
How your benefit or payment will be affected
You can check how your income will affect your benefit using the income deduction tables.
Want to check or change your income?
If you've already told us about your income, it will show in MyMSD.
If you think the amount you entered isn't correct, please change this as soon as you can by logging back into MyMSD.
If you need to change your income after 6pm on Friday, call us before midday on the following Monday.