My understanding is yes, they will back pay you. We had this happen last financial year, we got FTB when my tax return was lodged, then after DH lodged his, we got another cheque for the difference because we'd overestimated his income.
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My understanding is yes, they will back pay you. We had this happen last financial year, we got FTB when my tax return was lodged, then after DH lodged his, we got another cheque for the difference because we'd overestimated his income.
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oh goody that sounds like a plan then, yes i was told to overestimate but was worried that even if i did they wouldnt pay ppl back, only charge you if you underestimated if that makes sence.
as the saying goes, id rather be safe than sorry!!
you'll definitely get your top up payments hun. at tax time ive always had a nice surprise top up from over estimating!
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the only time you WON'T get a top up if you over estimate is if you take more than 24 months to lodge your tax return (which i'm guessing you won't do!) - otherwise, if you overestimate, you get the rest of your entitlements paid to you as a top up
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Something else included with the 'top up' is the approx $600 per child if you receive family tax A and $300 per family if you receive family tax B.
I love tax time !! I count down from about January every year !
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the $600 and $300 payments are based on income as well - they are not guaranteed - they are a part of your FTB entitlement but when income reaches set thresholds, these reduce. so please don't assume getting some FTB means you get these payments
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BG, can you tell me what the combined income threshold is to receive FTB? I'm positive we'll get it this year but just wanted to check??
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