Family tax supplement

[Liviam]

$711.75 per child, WooHoo!! But before I get to excited is that $711.75 means tested?

[Inertia]

Only in total with all FTBA. So long as you were financial eligible for a part or whole payment of FTBA during the year, and you did not underestimate leaving yourself with a debt that can absorb it, you will be eligible for the FTB A Sup. It is pro-rata so I cant remember if you went over into July like I did so I will just say that its 711.75 for the whole year. For Phoebe I am only going to get around $690 as she doesn't qualify for 11 days.

[Astrolady]

geeze @ $711.15 this year !! that is an extra $300 I wasn't expecting. I was just assuming it would still be around the $600 mark per child LOL.

[Glamourcide]

What happens if you overestimate your partner's income? Do you only get the supplement payment or do you get backpay as well? I missed out on the supp last year as DH did some OT and got a pay rise mid-year I wasn't aware of (only 20c an hour but it added up!!) so I ended up with a few hundred dollars of debt, this year I'm 99% sure I've overestimated DH's income but still don't know how it all works with FTA and FTB lol :/ If you have overestimated, the supp is all you get, right? Someone (who doesn't have a clue, mind you) was telling me that she overestimates every year so that come tax time, she gets 'heaps of backpay on top of the $600 per kid', I've never heard that before so I'm assuming it isn't true? Would be nice to get the supp payment this year though, I have a BB meet-up account that needs an injection

[black_rose]

We over estimated not on purpose but our business got quieter than expected last financial year( 08/09) we recently filed the tax returns and I ended up with some fta which was unexpected and the ftb, ccr and ccb were adjusted too.

[Lulu]

at the end of the day it goes on your actual income - that's why you need to get all your tax returns in so they can see what you got/ against what you are entitled to.

[Inertia]

Yes, Glam. If you are on a reduced rate of FTBA+B and you have overestimated then you are entitled to backpay. Much like your friend I always overestimate - however mine is not for the backpay, it is on the off chance we might pick up a half way decent client and could effectively end up with a lot more income. Its not that I do want backpay - its that I dont want a debt. However the last year my DH worked for someone else the family estimate was around 70k and the end of year total was actually under 40k so I got around 9000 that year with the sups and backpay. For a while there my online services looked even... more impressive, LMAO. I obviously called them immediately and got that sorted because I could not for the life of me even think of in what universe that could have been even remotely correct. I think somehow it just doubled what I was supposed to get.

[Astrolady]

LOL BR, If I saw I had that incoming I would have dropped dead on the floor.

[e_p]

What happens if you overestimate your partner's income? Do you only get the supplement payment or do you get backpay as well? I missed out on the supp last year as DH did some OT and got a pay rise mid-year I wasn't aware of (only 20c an hour but it added up!!) so I ended up with a few hundred dollars of debt, this year I'm 99% sure I've overestimated DH's income but still don't know how it all works with FTA and FTB lol :/ If you have overestimated, the supp is all you get, right? Someone (who doesn't have a clue, mind you) was telling me that she overestimates every year so that come tax time, she gets 'heaps of backpay on top of the $600 per kid', I've never heard that before so I'm assuming it isn't true? Would be nice to get the supp payment this year though, I have a BB meet-up account that needs an injection

The other lovely ladies have already confirmed I think but just to double confirm - if you have overestimated your income, you will be paid arrears for whatever you were entitled to throughout the financial year, plus the supplement payments. Once you have lodged your tax return, it will be reconciled automatically and the backpay sent to you

[Astrolady]

Just had a look online here as I did our tax last Wednesday (well Andrew's, I did mine on the first of July) I got a huge surprise to see all my supplements and payment in arrears (in my favour) going into my bank account tomorrow.

[Glamourcide]

Well there you go Cheers ladies!! Might not tell DH about the arrears bit bahaha... oh, okay, I'll tell him, but still keep a bit secret for myself What, these shoes? Noooo, they're OLD!

[Marlene]

I lodged DH's tax return on e-tax on Thursday night, I just checked Centerlink online and my supplement is going in on Thursday. Our tax refund hasn't even been credited to our bank yet. Looks like Centerlink are on the ball this year!!!

[diannescruffy]

Wow, that is quick.

Regards,
Dianne

[feeb]

I defer FTA B, just a few weeks ago received a letter saying we hadnt done our tax for previous year which was crap, I rang them and they did a few things on comp and a week later i receive a letter saying $800 going into my account!!! was very excited!!!!

Whats the $711 you are talking about is that for A or B?????

[Liviam]

That is quick ladies - fantastic!!! Don't forget to have a little treat. We always go out for tea as a family and order anything we like, it's not much but it's something, then use the rest to pay bills/savings or whereever it's needed

[Astrolady]

I defer FTA B, just a few weeks ago received a letter saying we hadnt done our tax for previous year which was crap, I rang them and they did a few things on comp and a week later i receive a letter saying $800 going into my account!!! was very excited!!!!

Whats the $711 you are talking about is that for A or B?????

It is Part A and is per child
Part B is $350 something and is per family.

[feeb]

It is Part A and is per child
Part B is $350 something and is per family.

Ahh ok cool thanks

[Liviam]

Does everyone get part a?? All these supplements/allowances/benefits confuse the life out of me. I just can't keep it all straight. I just wait and see what comes and pray I don't end up with a debt.