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Does anyone know the wait on our Family Assistance reconciliations at the moment? The FAO has had our taxable incomes since 25th July and there is no sign of our FTB reconciliations yet.
When I estimated our incomes we weren't entitled to any FTB - part A or B and got a letter saying that ours is cancelled. But after doing our tax returns our income is lower and I did an estimate online and it says that we should have gotten something each fortnight.
Do you think I should give them a call?
IF it as cancelled there is nothing to reconcile. You will need to do a lump sum claim. Call up and check
Just curios, do any payments we get just show up as "Arrears payment of FTBA supplement" "Arrears payment of FTBB supplemtent" and that's the lot? I think I under estimated by about 1000 this year and I'm not sure if this has been taken into account already or if I'm expecting something to be deducted, or even if more payments will come?
I can't remember how it worked last year.
Thanks :)
ETA: Don't worry. I've just checked. We've gotten a couple of hundred less in the FTBA supp payment so I'm guessing that it's covered the debt we owed and we won't get anymore payments. Correct me if I'm wrong :)
Sounds right hun
does your ato refund money come as part of the fao money? i seem to have only got one amount but not sure if it included my ATO refund? I got a ATO thingy in the mail...
Thanks BG - I did have to lodge a lump sum payment. Will have to put that in my memory bank for next year.
I wasn't expecting any extra family allowance due to underestimating our income by a lot for last year. I know we were owed CCR but I figured that would be cancelled out by our overpayment of FTBa, FTBb and CCB. However we got an amount paid into our account today. Is the reconciliation for FTBa, B, CCR & CCB done all in the same payment or will I get a rebate for one amount and a bill for another? The payment was just marked as Family Allowance into our account.
Ccr will be used to rectify a ccb overpayment but not Ftb
Last year we had overpayments for both, ccr paid the ccb overpayment and the left over was paid into our account.
Ftb supplements are used to pay ftb overpayments in the first instance. If there is any leftover (if the overpayment is less than the supplement(s)) that will be paid in to your acct
ah ok, so I could still be faced with a bill for FTB. Thanks :D
ETA However the payment that came in today came in as "family allowance" which is what our FTBa comes in as. I'm so thoroughly confused by all this. I wish they would send the letters before the payments so that I know what to expect lol
Is that what's on the FAO online system or your bank statement?
If it's the bank, check the online system.
If it's the online system, I'm confused too.
Ok I have checked the FAO online system properly now.
It says the money I was paid was for CCR only, rebate owed less overpayment. So I assume there will be another debt raised soon for FTB and CCB.
if it says FAO payment on internet banking, it could well be CCR, not FTB - usually FTB reconciles as something like "arrears ftba" or "supplement ftba"
Thanks BG :D
Any idea how long before I can expect the CCB and FTB reconciliation to be done?
if you underestimated, the CCB will have already been done. you would have had a debt, which would have been taken out of the CCR payment you received (so hard without seeing for sure!)
ftb would have been reconciled too - if you haven't received a payment, chances are you may have a debt - jump on online services and go to "manage the money you owe" - it should show the debt (but only if it's been raised already)
so hard to say for sure - too many variables (it may still be a credit that was sent to ATO as outlined previously too kwim)
Awesome, thanks BG. FTB debt isn't showing yet under "manage the money you owe" but as least I only have that to worry about, so I'll just check again over the next few days for it to show on the system.
you're welcome
there is a chance, given the brood you have, that you may not have been too severely underpaid (if at all)
you should get a letter very soon about the ccb/ccr thing
I underestimated by $22000 in total, :redface: and mostly that was my income so I would be very shocked if there wasn't a debt. That said, I didn't claim for the whole year so that might be my saving grace.
it also depends on where your incomes fell on the "spectrum" - as there comes a point, for ftba only, where it "plateaus" - for about 20k - so even if you have underestimated, it may not be as scary bad as it seems
worst case scenario, if you said you have no income at all, and you were below the plateau for ftba, you may have to pay back as much as 400 for every 1000 - but it really does depend on where you were on the estimate spectrum.
if you were receiving ftbb, you can pretty much assume you have to pay all you received back
ftba would be 200 for every 1000 up until you reach plateau point
and maybe rent assistance if you got any