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If there is any difference in the answer for this for 07-08 and 08-09, I need to know both.
I overestimated our family income for CCB purposes. This means I am potentilly entitled to a higher % of CCB than we claimed/were paid in fee reductions.
Does the FAO work this out once we do our tax returns, or do I have to do a lump sum claim for any difference?
nothing will change in 08-09 to what was in place in 07-08. you estimate your income, and if you overestimate, you get a top up at the end of the year
what WILL happen though, that hasn't happened in the past, is that you get 50% of your out of pocket costs rebated each quarter - but your final quarter wont be paid til you've done your tax. if you've overestimated and are entitled to a top up of CCB, your ACTUAL out of pockets will be lower, so you would have been overpaid the rebate. SO, FAO will pay you your top up of CCB, take any overpayment of CCR out of that final quarter, and pay it all when you've done your tax
hope that makes sense!
BG
yup, perfect sense. thanks :)