thread: Reconciliation payment

  1. #1
    BellyBelly Member

    Jul 2010
    Melbourne
    2,737

    Reconciliation payment

    How do I know this is being processed? How long does it usually take? DH tax was finalised last week. Is it as simple as just waiting for the payment like a regular payment? We have had a bit of an emergency and I will be needing this asap

  2. #2
    BellyBelly Life Subscriber

    Aug 2009
    Melbourne
    766

    Re: Reconciliation payment

    I have found that it normally comes through 1-2 weeks after we've done our tax return.
    It just appears in our bank account, and we get a letter/email explaining the payment.

  3. #3
    BellyBelly Member

    Jul 2010
    Melbourne
    2,737

    Re: Reconciliation payment

    Thanks!

  4. #4
    BellyBelly Member

    Oct 2007
    Middle Victoria
    8,924

    Re: Reconciliation payment

    it usually comes within a few days of the cheque from ATO.
    centrelink on line have details day or so before it hits the bank too.
    hope things are ok.

  5. #5
    BellyBelly Member

    Aug 2010
    Albs, WA
    971

    Re: Reconciliation payment

    I lodged my tax in july, nothing from centrelink, called them last week and they processed it within 3 days.

  6. #6
    BellyBelly Member

    Jul 2010
    Melbourne
    2,737

    Re: Reconciliation payment

    I'm bumping this thread because I have another question and Centerlink has a 'more than 40 minutes' wait time. DH tax has been done by the agent, but has not been submitted because we haven't paid the fees yet (he has a commonwealth debt so don't ever see the $$). I didn't know it had to be paid before lodgement and have just found out. I can't pay until next week (maybe) so Centerlink can't process reconciliation payment for us until I pay the tax fee......BUT I think I remember the lady on the phone saying that the it has to be lodged by a certain time in order to be processed by centerlink for the recon payment. And I think I remember her saying October.
    Is there a time limit on getting your tax return lodged (and paid) with Centerlink???

  7. #7
    Moderator

    Dec 2007
    Hork-Bajir Valley
    5,722

    Re: Reconciliation payment

    You need your tax return done by the end of October (i think).

  8. #8
    BellyBelly Member

    Jul 2010
    Melbourne
    2,737

    Re: Reconciliation payment

    Thanks, I hope it's not earlier for Centerlink purposes....

  9. #9
    Registered User

    Dec 2006
    In my own private paradise
    15,272

    Re: Reconciliation payment

    You have til June 30 2015 to confirm your income via ATO for centrelink purposes

  10. #10
    BellyBelly Member

    Jul 2010
    Melbourne
    2,737

    Re: Reconciliation payment

    Thanks BG

  11. #11
    BellyBelly Life Subscriber

    Aug 2003
    VIC
    985

    Re: Reconciliation payment

    Can anyone help me RE: reconciliation payments for family tax?
    My partner finally put in his tax return this year, and now a week later I received family tax supplement of approx $700.
    We had overestimated our income by at least $10k, and I usually get a lump sum back cause we over estimate.
    Does the family tax $700 supplement and reconcilliation get paid separately or is the $700 payment all I'm likely to receive?
    Thanks

  12. #12
    Registered User

    Dec 2006
    In my own private paradise
    15,272

    Re: Reconciliation payment

    that's likely all you will receive if it said it was ftb supplement
    there are a number of reasons you may not get as much - quite often this one is where you have over estimated your family income (say you put combined income at 100k for example) but underestimated severely the lower income earner and ended up with an overpayment of ftbb (so something along the lines of estimated 5k for one, 95k for the other, but reality being that your actual incomes were 40k/50k so all the ftbb you were paid was overpaid even though your total estimate was less than the 100k)

    if you are concerned about being underpaid you'll either need to give fao a call or wait for the letter to come out explaining why you got that amount of moolah

  13. #13
    BellyBelly Member

    Aug 2010
    Albs, WA
    971

    Re: Reconciliation payment

    are your vaccination records up to date? My 4yo had her healthy start for schools check and i forgot to advise so they held back 1700.