Loan Repayment from Wifes Company
I loaned around $60K to a Company now owned by my Wife. The Company has a contract to supply software and services (not classified as PSI income) for the next 12 months. I want to use some of the income to repay the loan to me. Is this income in Centrelink's eyes as I do not want it to effect my Pension.
I intend to declare $426.00 as a salary($316/2 + $300).