How much are you allowed to have in savings before it affects your payments ie PP (single) or FTB a/b? Does it matter if its kids bank accounts/savings?
if the account is in the childs name only it shouldn't impact you - but best to show it just in case.
as to the amount you can have in savings, it depends on the value of your assetts etc as well as the money in your account. there is an amount that doesn't impact you at all, then, so long as you're under the limit for assetts and savings, it's only the interest that is deemed to be an income. if you go to the online services on centrelink website, there is a rate estimator on there - if you do the centrelink payments estimator, it will tell you the impact it will have. you have to have a fairly large amount of money in savings for it to have a significant impact though - i believe it's no more than about 5% interest assumed (so on 10k, it would be 500 over the course of the year, which would then be divided into your 26 payments - would impact you less than $5 a fortnight).
as for FTB - if you are getting pps, you will automatically get the max rate of ftbb that you're entitled to (so if you have more than 65% care, you'll get the max rate, less than 65% care, you'd share ftbb with your ex). for ftba - you'll get the max rate depending on child support entitlement - child support may impact you. the only way your savings would impact you is if you weren't receiving pps and were having to pay tax on the interest - it impacts your taxable income...
Savings + Centrelink?
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