Family tax benefit A - what is the most you can earn??

[nothing2lose]

Hi,

Hoping someone knows the answer to this to save me 45mins on hold to the FAO!

I have not received family assistance for a few years but someone recently suggested I put in a retrospective claim for 09/10.

Not sure I am eligible though. Does anyone know what the upper income limit for a family with one child (then aged 8) to get any sort of payment and/or supplement????

Also, with fringe benefits, is the total reportable amount used to calculate income??

Many thanks!!!!

[Rowellen]

I just googled it & came up with $60,955 - $101,312 depending on whether it is just the base rate or includes the supplement. It's all a bit too complicated for my liking. I think Fringe benefits are included in your income.

It can't hurt to put in a claim anyway. If you're not entitled, you just won't get anything. I think you can lodge it online if you register for centrelink.

[briggsy's girl]

101045 was absolute upper limit for ftba in 09/10 fin year

[nothing2lose]

Thanks guys

Do either of you happen to know whether fringe benefits are calculated at the grossed up amount or the actual amount?

[Rowellen]

Sorry, I'm not sure. I would guess, whatever amount is on your PAYG Summary from your employer.

[briggsy's girl]

Fringe benefits are included - but not the total amount

the gross value of the fringe benefits is reported, but only about 53.5% f the grossed up value is counted as income

so if your income is 50000 plus 10000 gross value of fringe benefits, your total income for FTB purposes would be 55350 (or thereabouts - can't recall if it's 51.5 or 53.5%)

does that help?

[nothing2lose]

Okay, so the value of the fringe benefits paid (as per group certificates) is $58,033.

So, for the purposes of FTBa, it would be calculated as that x .53% (approx).

Then that is added to my taxable income, as well as DP's taxable income for our family income???

[briggsy's girl]

yup, sounds about right!

did you claim child care in that year at all?? if you did, the exact details will already be available to fao (and your online services)

[nothing2lose]

We weren't eligible

Thanks for all your help