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hello, was wondering if anyone can help me with a quick q
we're going to see our accountant soon to do our taxes. i've been getting the FTB and parenting payment (i think) since ds was born. do i need to take some sort of evidence - like a group certificate sort of thing, i guess- to the accountant to show how much ive been paid from these payments or how does it work?
tia
Centrelink should've sent you a payment summary to take with you.
My centrelink details were already in the system though. Yours should be too.
I would take the payment summary jic.
If you were getting paretning payment partnered you will have recieved a summary.
If just FTB you won't.
If you don't have the information, as bjrose said, it will all be in the system
ok, i haven't received any summary- so maybe i haven't been getting the parenting payment? i know when i check my account that 2 seperate payments go in.
when you say it should be in the system- does that mean my accountant would be able to access it?
thanks ladies
ok, i've just checked my account and it says
FTB and
FTA
does this mean that the accountant will be able to access this info or do i have to get it from somewhere before i go to see him?
tia xox
Rainy if it's only FTB part A and FTB part B, then it's tax free and you don't have to worry about it. That's what comes in my account as well.
Rainy if you're just getting FTB A and B then you don't need to give your accountant the amounts, Centrelink will be given your income totals and they will calculate a reconciliation between what you received and what you should have received.
oh....thanks guys
sorry i'm so pg brain atm
so.....who will give these income amounts to centrelink to reconcile?
sorry, i'm sooo annoying!!
The ato & centrelink will cross reference & sort all that out. You just need to provide an income estimate for this financial year, which you've probably already done.
ATO send your actual taxable income details to c'link. they cross check what you estimated with actual income - if you're entitled to a top up, it will be generated there.
thank you :)