NEIS FAQ’s – Financial
Is my NEIS income taxable?
Yes, you will need to consider this when completing your financial projections for your NEIS application.
What are the benefits of remaining on NEIS Allowance?
NEIS Allowance is designed to ensure the rate of payment is not affected by the earnings you makes through your NEIS business. The benefit of this is that you can earn any amount through your NEIS business without your NEIS Allowance payment being affected.
Can I have a part-time job as well as on my NEIS business?
Yes, you can have an external income (such as a part-time job or investments) while operating your NEIS business. Provided the external income is not greater than twice the amount you receive from NEIS. Your part-time job should not interfere with your business development. You may contact NetGain Australia to discuss any concerns.
Can I continue operating my NEIS business if I am receiving an income support payment from Services Australia?
Yes. NEIS participants can continue operating their NEIS business and receive mentoring from their NEIS provider while receiving an income support payment from Services Australia.
Can I transfer back to NEIS Allowance if I have been receiving an income support payment from Services Australia?
Yes. NEIS participants who wish to transfer to NEIS Allowance must contact their NEIS provider – Netgain Australia.
NEIS Allowance is payable for up to the first 39 weeks of NEIS Assistance. If a NEIS participant transfers to NEIS Allowance after commencing in NEIS Assistance, their NEIS Allowance will be paid fortnightly in arrears from that time until the end of the NEIS Allowance period (39 weeks). NEIS Allowance is not backdated to the start of NEIS Assistance.
What are my income reporting obligations if I am receiving the JobSeeker Payment during the initial 13 week NEIS training?
Income support payments from Services Australia have different reporting requirements and may be income tested. This means a NEIS participant’s NEIS business income may impact upon the rate of income support they receive. For more information, please visit the Services Australia website.
If a participant is receiving an income support payment with Mutual Obligation or Compulsory Participant Requirements, they will continue to fully meet these requirements by participating in NEIS Training.