some tax related questions and FTBa&b 'bonus' type payment?

firstly, i just recieved some money from centerlink for child care benefit and child care rebate (this is after i had submitted my tax return). i just realised that in this payment i havent recieved any back pay for over estimating our combined income for FTBa and b.. does this come in a seperate payment?

also, friends of mine keep telling me that if you get i think FTB b (i think, it could be a though) that they are going to receive about 650 bucks per child? what is this moeny for? i hope i get it? i get both a and b so i should, but i just dont know why or when i will get it?

They are talking about the supplement payment. It is basically money that is withheld from your F/Nly payments so that if you do get a debt at reconciliation time you already have a bit up your sleeve to pay it off, otherwise if you overestimated you get it back. It doesn't matter if you get part b or not, so long as you get FTBA you will get it. I would assume that it will be paid separately to the CCR.

it usually comes about 2 weeks after ur tax return is lodged

oh right, i get it. so is it 650ish for each child or just the one?

i still think it is wierd that i got my child care stuff seperately to everything else though. got it about 3 days after i lodged my return online. havent had any tax return $$ yet either.

its $700 per child

I got my CC payment yesterday - I rang to check what it was for and they said that the FTB reconciliation should be done by September 1 and if I hadn't heard from them by then to contact them.

Hope that helps!

Janie xxx

oh thanks janie. glad to know they did the two seperate payments for you too. thanks skybie... $700 x 2 sounds good to me! :-)

there are two supplements on to of any arrears you may get for overestimating
if you accurately or overestimated your income, there is a payment of 711 and some odd cents per child for ftba. there is another if you qualify for ftbb - around 358 per family.