I was wrong, anyone else??????????

Well i might have had the wrong information but i am sure that i read that because we get our family payment annually in a lump sum at the end of the year once we do our tax return that we would have to wait till then to recieve our $1000 per child.

well i was WRONG we got ours yesterday in our account, i am not complaining but i was not expecting it.

Is anyone else in my situation and received the money too ?

Well it will be great to hear if anyone else thought this too so i don't think that i am going crazy!!!

Thanks
nikki

Wow what a nice surprise. I was also under the impression that if you get your FTBA payment as a lump sum at tax time that you would also get your $1000 payment at this time. Because how would centrelink know what your income is to be able for the year to assess whether or not you are eligible for FTBA.

But what a lovely pre Xmas bonus for you. Enjoy.

I thought it was if you were receiving Part A - or were eligible to receive Part A as at 14/10 - you would receive it. If it came out during the financial year you were retrospectively eligible for part A, then you would get it at tax time.

So I am assuming your estimate and history shows them that you would be eligible to receive it, even if just the minimum.

We don't get part A so are trying to think of ways to reduce our reportable income LOL.

sami yeah we have always been eligible, we just like our family payments in a lump sum it our way of saving, but i still did not think that we would get it.
And i would definitly try and get your income down atleast you have a while to do it !!!
Nikki

Well, everyone estimates their income - then they elect how to receive part A. Soooo my guess is because your estimate would still make you eligible, you would receive it.

Everyone who estimates still has to declare income at the end of the year for adjustment purposes.

Just a guess, but I think that works. ;)

ooooh really!??!!?!? This is most exciting .. i'll have to keep a look out, cos I thought we would get it at the end of financial year too!!! WOOOOT!!!

If you were ftb current on zero rate and your estimate reflected that you were eligible for ftba you will get paid this fortnight. If you just purely claim ftb from the ato you will receive the payment at the end of the financial year. Hope this clarifies it abit.

if you are FTBA active but deferring payment til tax time, it would pay based on your estimate. it's only if your estimate is over the thresholds or you're not claiming it at all til the end of the year

essentially, you have made a choice to not receive payment until tax time but can change that choice at any time with no issue as you're eligible for payment. it takes 2 minutes on the phone to update that choice. it would be different if your payment were not active

hope it makes your christmas more spesh!

BG

Oh yes it does i am very happy i don't have to worry about waiting till next pay to finish christmas shopping i can do it now!!!!!:dance:

Thanks everyone it was a lovely suprise and i do know why i got it now but i was still under the impression that i would have to wait.

Thanks heaps
Nikki

One way to reduce your reportable income is to salary sacrifice into super, (which lowers your gross income) but they (being FAO) have changed the rules regarding that so I'm not sure what the go is there anymore.

I rang centrelink to find out when we get ours and the recorded message said they will be put in accounts over a two week period (depending on your pay day, which I guess if you dont' have a regular one they make it up) from I think the 9th-23rd dec! xo

no, they unchanged it i think trillian!

it was going to be a case of if you salary sacrificed to super, your full grossed up FBT (fringe benefits) amount was included for income purposes - but this was i think changed again as it disadvantaged too many people - they couldnt' distinguish FBT for super from FBT for salary sacrifice for car etc. i'm not sure cos my brain isn't in work mode properly (doesn't help not being there for 10 weeks) but i know there were changes that were supposed to go through with the budget in may that were updated on the system and then overturned just before July 1 as it didn't pass the senate or something like that

m2g - even if you don't get a regular payment, you'll have a set pay day if you're active - so if you turned payments back on, you'd be paid on that day. that is the day you'll receive your payment for the economic stimulus if you're active on the system

Sweet! Thanks for that BG - I knew when I put our estimate in and spoke to a CSO about it they said it would be included from 09 or something like that, and I thought bummer, cause we already have about 20K of Fringe benefits from our car and healthy insurance etc. I did think at the time that it sucked cause the govt keeps urging us to put money into super etc and then they were going to penalise us for it kwim?

yup - completely kwym. no sure what is happening next year - but if i find some info i'll let you know

YES! I thought the same thing as you, Nikki - we always organise our payments as a lump sum because DH's salary is quite complicated.
But I got the $1000 in the bank yesterday! Woohoo!
(Kind of lucky because DH went on a HUGE spending spree yesterday, buying things that I have been putting off buying or that we have been considering buying for a while. I think he's come close to having spent a great deal of it already - eek!)

The people that don't get it are the ones who don't claim FTB until tax time because they don't want to underestimate
So if you get it tax time you get the bonus now, if you don't claim it until tax time then you dont get it until then either.

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The people that don't get it are the ones who don't claim FTB until tax time because they don't want to underestimate
So if you get it tax time you get the bonus now, if you don't claim it until tax time then you dont get it until then either.

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But they still hold an estimate of your income. We don't claim FTB until the end of financial year, but we still got the $1000 - because the estimate they hold shows us as being eligible... Hence the surprise ;)

ahhhhhhhhhh
yeah I see.
My friend isnt getting it until tax time for the other reason :)

I went on the website yesterday as apparently we got FTB A in our tax return however because our estimated income is close to the threshold they won't pay it until tax time - otherwise we might have to repay it

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My friend isnt getting it until tax time for the other reason

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Maybe they don't have an estimate from last financial year or something? I haven't even updated our estimate (so I'm very glad we haven't earned more this year than last otherwise I'm sure we'd end up having to pay it back too. Although we still haven't gotten last years FTB cause DH STILL hasn't done his tax return :rolleyes:)

She said she doesn't do an estimate until she gets her tax return, last year they earned too much, this year shes at home with the kids so has been getting a LOT less income and COULD get ftb but has elected to get it worked out when they get their tax statements or something??

Ahhhhh - gotcha now. The estimate they hold will be last years taxable income, therefore over the threshold. *chink* Penny dropped ... (and echoed in the empty space) :lol: