What does this mean RE: FTB top-up??

Found it here..

I know this is only pending Legislation..but if we have over estimated our salary does that mean we will not get FBT top up at the end of the year? Sorry, i'm a bit ditzy when it comes to all this stuff.

:

---

Streamlining administration

Please note: This measure is pending legislation.

This measure removes payment and service delivery of Family Tax Benefit (FTB) from the Australian Taxation Office (ATO) and ceases Family Assistance Office (FAO) operations in ATO shopfronts.

There are 2 key change dates for this measure.

From 1 July 2008:

* customers will no longer be able to claim FTB as reduced Pay As You Go (PAYG) tax deductions in anticipation of their FTB entitlement.

From 1 July 2009:

* you will no longer be able to receive a FTB reconciliation top-up with your Tax Refund
* you will no longer be able to claim FTB as a lump sum via the ATO.

This measure affects new and existing customers who:

* intended to claim FTB as a lump sum via the ATO from 1 July 2009
* would have received their FTB reconciliation top up with their Tax Refund and,
* would have reduced their PAYG tax deductions in anticipation of their FTB entitlement.

The last financial year that the ATO can process FTB payments is 2007-2008. You can only claim FTB payments for that, and any previous years, up until 30 June 2009. From 1 July 2009 claims through the ATO will not be accepted, regardless of the financial year they apply to.

---

Seriously? When was this announced? If its old news then I missed it and its my fault, but if it was after July 1 2008 then Im mad as!!

Why do they only announce this towards the end of the current financial year that you CANT claim a lump sum benefit for?
Surely they have to give notice, like say 'the current financial year you can claim as a lump sum, but from 09/10 you cant'
I was planning to claim mine as lump sumas our income wil be very borderline, and will depend when the baby is born to some degree as to whther we qualify.
The cynic in me think that this has been done to stop people reducing their income to claim FTB and the december 08 $1K stimulus at tax time.

I understand that the govt dont have to pay these sorts of payments, but I dont thinks its fair to make a change affecting the current financial year at the end of the 3rd quarter!!

If you have over-estimated your income, then you will still get a top up to reconcile how much you got already and how much extra you were entitled too based on your income but it looks like they are just restructing how the payments are made, so it's not offset by your tax or anything like that

Rayray, I assume by reading that they mean from 1 july 09, meaning when you file your return at the end of the 09/10 tax year.

rayray...I'm not sure what it all means yet...am hoping someone with some centrelink/ATO knowledge comes in.

It does say you can't claim lump sum from ATO, but maybe you can still claim from centrelink...not sure how it all works.

so does that mean we will no longer get the $600 per child payments at tax time?

eta - I think I have miss read what the payment is you are talking about. Never mind me

Trillian - I hope you are right but thats not how it reads:

:

---

From 1 July 2009:

...
* you will no longer be able to claim FTB as a lump sum via the ATO.

This measure affects new and existing customers who:

* intended to claim FTB as a lump sum via the ATO from 1 July 2009
* would have received their FTB reconciliation top up with their Tax Refund and,
* would have reduced their PAYG tax deductions in anticipation of their FTB entitlement.

The last financial year that the ATO can process FTB payments is 2007-2008.

---

This is saying that the last financial year that you can claim lump sum FTB for is 07/08, so not for 08/09.

Unless you can lodge them directly with Centrelink? You used to be able to do that.

Oh man I'm spitting sparks if that means I can no longer over estimate and then get it back after DH does his tax return! I don't want to risk an overpayment!

I can't see how it would make it more streamlined if we have to ring in every fortnight JIC DH does overtime. Possibly it would for the ATO but I can see it would create more work for the FAO...

I think what it is saying is that these types of claims can no longer be made through the ATO, so they will have to be made through FAO. I think... The legislation seems to be about ceasing ATO involvement in FTB payments, not ceasing the payments themselves.

:

---

I think what it is saying is that these types of claims can no longer be made through the ATO, so they will have to be made through FAO. I think... The legislation seems to be about ceasing ATO involvement in FTB payments, not ceasing the payments themselves.

---

I think this is pretty much how BG explained it in another thread..

eta: found it here :) https://www.bellybelly.com.au/forums...-question.html

All it means is you have to claim lumpsums via Centrelink/FAO and not through the ATO system.

As for reconciliation 'top-ups', it's the same thing: you can't just claim it via your tax return, you have to claim it via Centrelink/ATO. So nothing is changing as such as far as how much money you get. All that's changing is how you apply for it.

:

---

All it means is you have to claim lumpsums via Centrelink/FAO and not through the ATO system.

As for reconciliation 'top-ups', it's the same thing: you can't just claim it via your tax return, you have to claim it via Centrelink/ATO. So nothing is changing as such as far as how much money you get. All that's changing is how you apply for it.

---

That's what I was thinking it might be....and hoping, LOL. Thanks for clearing that up for me girls!!:D

:

---

All it means is you have to claim lumpsums via Centrelink/FAO and not through the ATO system.

As for reconciliation 'top-ups', it's the same thing: you can't just claim it via your tax return, you have to claim it via Centrelink/ATO. So nothing is changing as such as far as how much money you get. All that's changing is how you apply for it.

---

this is almost entirely correct

one thing to be aware of though, you can only lodge a claim up to 24 months after the end of the financial year for ANY year to get a top up - so for the year finishing on 30/06/08 you have to claim by 30/06/10 or you won't get a top up - ONLY what you received in installments through the year (but if you've been overpaid, you will receive a debt notice)