Baby bonus??

[Crystalwings]

Hi, coming in a little late but have been reading all the responses and wanted to subscribe to this thread.

UsPlus2 - I have already filled in the paper work for my ppl online and received confirmation from centrelink. My bub is due early feb and once they are born i just have to register bubs birth. I chose to get fto to pay me as i work for small business and thought it was kinda unfair that they have to go to the trouble of paying me when i could be paid by the government, even though it is fortnightly not weekly like i'm used to.

BG - i did the ppl calculator and would be around 2k better off. I don't really understand why the baby bonus wouldn't benefit those who qualify more then the BB. Is it because in some cases it increases your tax bracket and you end up losing your ftb? I earn slighly less then the ppl but after making my adjustments my cc fees only went up $1.50 and my ftb didn't change as i only get $50 a fortnight anyway. So does it also depend on what time of the year you have you baby as to how it will affect you? for us not much will change but i guess if you earn quite a bit less then ppl you would lose your ftb and therefore be worse off, is that kinda how it goes?

ETA - i will be working less hrs next FY but will my measly $50 a fortnight go up with a second child?
Thanks for your help.

[briggsy's girl]

BG - i did the ppl calculator and would be around 2k better off. I don't really understand why the baby bonus wouldn't benefit those who qualify more then the BB. Is it because in some cases it increases your tax bracket and you end up losing your ftb? I earn slighly less then the ppl but after making my adjustments my cc fees only went up $1.50 and my ftb didn't change as i only get $50 a fortnight anyway. So does it also depend on what time of the year you have you baby as to how it will affect you? for us not much will change but i guess if you earn quite a bit less then ppl you would lose your ftb and therefore be worse off, is that kinda how it goes?

ETA - i will be working less hrs next FY but will my measly $50 a fortnight go up with a second child?
Thanks for your help.

depends on EDD, leave entitlements from your employer (if you have any), whether your partner qualifies for ftbb (cos even if your partner has zero income and SHOULD get 130 per fn of ftbb, if you get PPL, ftbb stops for those 18 weeks), and yes, your tax brackets can make a huge difference. i think for us, because DH is the SAHP, even though i'd qualify for PPL based on the hours and stuff, once we take into account the higher income for ftba (which impacts your entire financial year), the higher annual tax amount, the fact we'd lose ftbb for that 18 week period, we'd still end up about 2k, cash in hand, better off

oh, and once you add a second kidlet, you'll probably double that ftba amount each fortnight cos you'll be getting paid for two kids instead of one

[Pretty Butterfly]

So far not one of my g/f, or work mates are better off with PPL.

By the time you pay tax, lose FTBb, CCB goes down, and that $10,000 gets added to your tax bracket, not to mention the medicare levy you might have to pay too, none of us were better off.

We are much better to get $5,000 tax free and keep all the FTB and CCB rates. And I can go back to work (from home) AND keep my money!!

I *think* PPL works out better if you earn close to, or more, than the $10,000 in your normal wage (beforetax) in 18 wks?