$600 per child payment

Linda3 - I was wondering the same thing - I even offered to do my
EX's tax as I had done it for the past few years. I thought he would sit on his for a bit if he knew I was waiting for him to do it.

Bg honey you are a legendy!!!! thank you so much for taking the time to help with all the questions.....I didnt even need to post up but had to cause everything thats been on my mind has been asked and answered :)

oh and I should get back paid for a $12,000 underpayment...we always over estimate greatly...makes for a great tax return ;)

I underestimated my working income (originally by about $7000, but reduced it gradually to be the correct amount before the end of the financial year). One Centrelink person said what I hadn't been paid (because of overestimation) I will get at tax time... Is that how it works? I had my ds in Aug in the financial year just gone, so I'll almost get the full $600 thing that your talking about? I receive both part a and part b.

I'm so confused, and I was speaking to someone today about doing E-Tax, but they said they go to a tax man and get good refunds... What would be the best to do? I received centerlink payments and earnt around $5000 in employment.

celsie - the "$600" payment is a portion of your FTB entitlement - so if you haven't claimed, but do a lump sum claim at the end of the financial year, you will receive that payment. if you're claiming fortnightly ftb payments, you'll get it automatically processed once your tax details are finalised

linda3 - if you're seperated on june 30, there is no wait for your ex-partners taxable income details. the process will use the most recent estimate of his income to finalise your details if his hasn't been confirmed when they process it. if he then lodges and you're entitled to more than you received (so his actual income is less than estimate) you will get another top up at that time

Rhiannon - if you overestimated your income, and had accepted the reduced payment to correct the earlier underestimate, they'll correct it at tax time. E-tax if great if you have a simple return - but if you think there are extra things you can claim, an accountant can be helpful. we use an accountant every year (DH is a truckie, so lots of little things to claim), as they know what you can and can't claim legitimately - and when you do your tax with them the next year, you can claim the costs of the accountant the previous year as a deduction! given the simplicity of your return, i would think that you could just use e-tax as you'll be considered low income, and will probably get everything back - try the ATO website (Australian Taxation Office Homepage) and tax calculators on there will tell you what tax you'd have to pay...

Thanks, I have put in my tax which is a loss which as I know gets reverted to zero for FAO, can I advise non lodgement in that case even though I have lodged one since the end result is the same?

nah, just wait on it coming across from ATO, cos if there ends up showing anything at all on the notice of assessment (rental properties run at a oss for ATO, but that loss is an income for FAO - so you're not getting double benefit for the "loss") so you're best to wait so you don't get nasty debt if it comes across like that

Thanks for the reply BG. I do get FTB each fortnight, so does that mean I don't get $600?

No it's not rental property losses, it's business losses...ATO only JUST started processing claims and I need the money ASAP before my baby arrives in under 4 weeks! Have to pay OB bill and get car seat etc plus preemie clothes :(

yep - you still get it (provided you estimated right on, or over estimated your incomes)

the supplement is essentially a part of your FTB that you don't get each fortnight - it's just held back in case you don't estimate right - it is taken first, and then if you still owe money, you get a debt - it's reduced the amount of ftb debts massively cos the supplements "pay" that debt first

linda - if you've lodged a tax return, you're not able to tel FAO that you're a non lodger - you have to wait for it to come through from the ATO

Ah... that's excellent. I underestimated DH's income by $4000, but over estimated mine by $5000, so it works itself out. Are you an accountant or do you work for Centrelink??? :)

Bugger, should have just not lodged! I only get $140 from old baby bonus from tax and would prefer my lump sum from FAO sooner. ATO can take awhile to process, then it has to go to FAO and wait until they process their stuff too. I lodged on the 1st thinking it would likely be processed straight away then someone tell me they didn't even start processing until yesterday!
Hope it's done soon, i'm desperate right now! OB fee is $2300 :doh:

celsie, i could tel you, but i'd have to shoot you!! :p


i can say i don't have a degree of any sort though... :lol:

Thanks for your help BG, much apreciated. Guesse I just have to hope that things move through the system quickly for me. Might have to lend the $$ for OB of ex, it's his baby too :p

awesome! Thank you for your help! :)

Well aren't you just a clever little bunny! :lol:

Thank you for all your help!

I just ranf the FAO to find out how much longer till the lump sum is paid and informed them my income was zero since they asked :lol: Anyway they told me they will be starting them on 16th so anytime after that, must be a generic response for 'I don't know' since I know some already have theirs and it's not yet the 16th :rolleyes:
So basically no help whatsovever!

i am sooo lost with this....so i gotta wait till my hubby puts in his tax return? i get part a and b do i get anything lol