Stimulus package question

I know, I'm leaving it a bit late... but this thought occurred to me yesterday and I started panicking.
DH and I are eligible for $900 for being a single-income family. I just have some questions for anybody who has the vaguest idea of what I'm on about because hey, $900 is nothing to sneeze at and DH will KILL me if I miss out on it because of some stupid oversight.

I assume the payment will be deposited into my bank account, as I'm the person receiving FTB A & B? With the last stimulus payment, I did nothing and it just got put into my bank account the day I got paid from Centrelink, so I'm wondering if this will be the same kind of deal?
Then I was reading something the other day and it mentioned tax returns. I know this is for people who are receiving the payment for earning under $80k, but I'm just wondering if I have to lodge a tax return as well in order to be eligible for the single-income payment? I haven't lodged one for myself since mid-2007 because 2006 was the last time I actually did paid employment - I haven't worked since I was waitressing and lost my job because I was pregnant with DD.

Gah, it's just confusing lol... I'm going to call Centrelink and try to figure out what the deal is but I was just wondering if any ladies around here had some advice for me regarding this one. Like I said, $900 is not an sum of money I'd be happy about losing out on if I was entitled to it, so I want to make sure I do all the right things in order to receive it.
If they're doing it the way they did the Christmas one, then I have a bit of time to sort this out - I get paid fortnightly and tomorrow is my next 'payday', then the stimulus payments start on Wednesday so it will be another fortnight before I'm due to get it, if I have my calculations correct. How long does it take for a tax return to go through? DH usually does his online with eTax or some other program for free and so I'll just get him to do it for me at home so it's quicker (and cheaper) than going to an tax accountant.

Hi,
I don't have an answer (sorry), but if you find out, I am in same boat...can you let us know...or anyone else out there reading this.
I have found it very confusing too, even a little conflicting!!!!
Thanks

Im not much help hun, but from my basic understanding, the one that is paid with FTB A & B will go into your bank account along with your normal fortnightly payment.

The tax one, im not too sure as i have done my tax returns, but i think even you had no income, then you still need to do a zero $ tax return? Im not really not sure about that one darl. Someone will be along shortly with more knowledge than me!

I thought in order to receive the tax time payments (The $600 per kid etc) that you have to ring centrelink and tell them you earn nothing for that tax year, so Im assuming the ATO would be notified about that.

BG Will prob pop in & be able to help you out.... I have no idea about any of it either!

if you currently receive FTBB in installments, it will be paid into the bank in the next fortnight

ok - more posts from when i initially opened it! so i'll elaborate


FTBB payment for single income family - if you get FTBB in installments, the $900 will go in your bank either with your next payment, or if you're due to get paid today or tomorrow, it SHOULD go in on Wednesday this week

the under $80k payments - for these, you have to have lodged your 07/08 tax return and they will be administered by the ATO - if they have your bank details, it will be sent to your bank, if not, it will be sent to the address on file - so if you're not sure that is up to date, you'll need to ring them. we get our tax done through an accountant, so ours will be sent to accountant and forwarded to us unless we update (which we're not going to - i like the accountant handling that crap!). my understanding is that you have to have PAID TAX in that financial year, so if you did a tax return but got all tax you paid returned to you, then you don't qualify


these payments are COMPLETELY INDEPENDENT of the "$600 end of financial year payment" that someone mentioned - i will clairify that telling EITHER ATO or FAO that you have zero income for the financial year does not notify the other department! the ONLY information that is transferred ATO to FAO is ACTUAL tax return details - notifying ATO or FAO you won't be lodging does not tell the oppositive department

What if you don't receive FTBB in installments? We received it last year as a lump sum at tax time. What does this mean??

We didn't get the last $1,000 payment either so does that mean we won't qualify this time??

I am so confused about all of this :wall: because I don't deal with C'link at all so how do they know my family's details in order to decide what we get and what we don't? For example, how do they know i'm not longer working? Maybe I should call them. With me being made redundant, a possible $900 payment is not something I want to miss out on if I qualify.

**ETA:

:

---

my understanding is that you have to have PAID TAX in that financial year, so if you did a tax return but got all tax you paid returned to you, then you don't qualify

---

BAH!! That's me so I guess we miss out again!

:

---

What if you don't receive FTBB in installments? We received it last year as a lump sum at tax time. What does this mean??

We didn't get the last $1,000 payment either so does that mean we won't qualify this time??

---

if you don't have fortnightly installments (or listed as current but not receiving payments) both of these payments will be processed when you do a lump sum claim at the end of the financial year - you won't be omitted from receiving payments that you're eligible for just because you aren't FTB current - it's just you won't get them until you've done your tax and submitted a lump sum claim application. a lot of people will receive at the end of the financial year - for some, it's just easier to NOT claim through the year cos of the way their income works (i will be one of them when Gremlin arrives - DH's income is so variable!) - it's usually better to get payment at the end of the year than to potentially get a debt for underestimating

what i will suggest for you willow (and anyone else in your circs) is, when your next bubba arrives and you call to claim the baby bonus, you can ask to become FTB current but receive no payment if your DH's income is close to the limit. if you qualify for FTBB you can opt to JUST receive that payment through the year, and FTBA at the end of the year. make sure you talk through payment options with the person on the phone and don't let them fob you off - if you don't understand exactly what they're saying, ask them to say it differently. as a consultant, i would rather explain something half a dozen times (esp to a new mum - it's full on giving birth then trying to understand ftb stuff) and make sure people understand, then to have them hang up not knowing what i was talking about kwim?

Thanks girls :)
AnnaT, I don't recieve the $600 per child lol, I remember a friend mentioning it to me the other year and I was like 'HUH?! YOU GET PAID $600 FOR EACH KID?! HOW DO I GET THIS MONEY!?' but she knows jack-all about tax and FAO so she could only tell me she gets it, somehow lol. So I have to lodge a tax return to get that? I would be eligible even if I haven't earned a cent other than my FTBs? Lol again, $600 a year is nothing to sneeze at, I wouldn't mind finding out more about that one (but I've noticed that the Centrelink people I get hold of seem to be reluctant to discuss things you don't know much about, like they're acting dumb so you don't figure out you are eligible for more money!).

But silly me should have just checked the FAO website, I have an account on there so it's easier for me to update details etc without sitting on the phone for an hour and a half at a time... I just had a glance at it then and it tells me my next payment will be tomorrow (my regular fortnightly payment), and then the $900 stimulus payment will be in there on Wednesday. So, I assume that I *don't* need to lodge a tax return or update our details (my bank account details have been the same since we had DD, but my address has changed a couple times, Centrelink is up to date with my address but yeah, tax office doesn't know I exist probably hahah), and that because I get paid early this week I get the bonus the day it starts, if that makes sense.

So, sorry to be a pain and ask all those questions hahaha, but hopefully that new bit of info helps those who had questions of their own, cheers for giving me a hand, especially BG!!

BG - I was on the medicare website the other day checking our safety net status and we are listed under the 'FTBB saftety net' threshold - does this mean that we're classed as current then?

Bah! I don't get any of this stuff, I've never had to worry about it before. We just waited till tax time to claim anything we were entitled to, which is usually nothing.

I don't mind if we don't get it till tax time, as long as we don't miss out.

Donna - go looking in the c'link threads hun - there is one titled something like "$600 per child payment" - go read it (it's lengthy and i'm feeling blah so not gonna get into it today!) but it explains the payment and what you need to do to qualify for it

long story short though - if you qualify for ftba and b, you qualify for those payments - so have a read

willow - i honestly dont' know how they work out the medicare stuff as ftb is on financial year, medicare on calendar - i can only assume they use the results from the last fin year to work it out...

if you wait til tax time, if you qualify, you will still get it

Ok not related to this thread but just wanted to say thanks Briggy for all the help you are giving. You have answered a few c'link questions for me in the past and it has been very helpful....so thanks again :D

I recieved my payment today and I use the online services to do everything related to clink and I logged onto just before to see ifit had anything about when I will recieve my $900 and it says I will be recieveing it on Wednesday!! YAY!!

Mine is coming on Wednesday too!!! WOOOT

If you are entitled to FTB-B your $900 payment will be paid into your bank account with your Family Payment this fortnight.

Now, I haven't read through all the responses so sorry if someone has already answered the $600 per kid question..

In regards to the $600 per kid at tax time, if you don't have an income you hve to ring Centrelink after your partners Tax advice has come through to tell them you aren't required to lodge a tax return. It will then be paid into your bank account once Centrelink have consolidated with the ATO.

DH earnt over 80K in the 07/08 tax time...i earnt nothing....

Do we get the 2nd $900 payment....i know we are getting the FTB one
IM so confused!

:

---

Mine is coming on Wednesday too!!! WOOOT

If you are entitled to FTB-B your $900 payment will be paid into your bank account with your Family Payment this fortnight.

---

I got my payment today and get the $900 on wednesday so I am not getting it with my payment.

On the centrelink website it says that everyone entitled will be recieveing it between the 11th and 20th and it may be a different day the your usual payment.