Interpretation and declaration of income
I receive half the married rate of pension, payable to us in Spain, where we have lived for some years. My wife (65 years) is not eligible for an Australian pension and does not have a seperate income. Since getting married four years ago we have lived on my pension and supplemented this from our savings. Whilst the cost of living here is significantly less than in Australia, we cannot sustain this depletion of our limited funds indefinitely and fortunately, I may be about to earn an income from an Australian company from the publication of material that I have produced. The income will not be regular nor predictable. My questions are thus:
1. How should the income be reported and what is the implication of the work bonus and the income threshold?
2. Given the best case scenario, what is the maximum I can earn in any one year and still receive a portion of the pension?
3. If in the (unlikley) event that the income is such that the pension is cut off, but the income later ceases, can I again receive the pension?
4. And if so, do I have to return to Australia to do so?