Baby bonus

[little_O]

For dd I received ppl, but this baby will be a baby bonus I think.

I was reading the eligibility, and it mentions the combined taxable income for the family must be less than 75,000 for the 6 months following the birth.

Not sure if this is baby brain but is that saying the family's taxable income must be 150,000 or less annually?

The 75,000 isn't an annual limit is it?

[Jaycee]

I don't think so, only that you can't earn more than 75,000 as a family in the six months following the birth.

[Mildez]

It cuts out soon unless its no1 from what I understood. When are you due?

[CinderToriella]

It's 150 total per family per year .
5000 for first child .3000 for any other children..

[briggsy's girl]

Annual income doesn't come into it. It's the income in the six months immediately following the birth of the baby

[HotI]

It cuts out soon unless its no1 from what I understood. When are you due?

Budget 2013-14: Family Payments Reform – replacing the Baby Bonus

The Baby Bonus will be replaced from 1 March 2014 with a rate increase of Family Tax Benefit Part A for children who are born, taken into care for at least 13 weeks, or placed for adoption after 1 March 2014.

The extra Family Tax Benefit Part A payments for families will total $2,000 for their first child and $1,000 for subsequent children. It will be paid as an initial instalment of $500, with the rest rolled into normal fortnightly payments over a three month period.

This measure will also amend the Paid Parental Leave work test. Families with children born or adopted within 13 months of each other will have their previous Paid Parental Leave period count towards the work test for their next child. This will allow families to more easily qualify for Parental Leave Pay for their second child.

[little_O]

How do they calculate the income for the following 6 months?

[HotI]

you give them an estimate. if you underestimate, and you end up not eligible you would have to pay it back.

if it is borderline if you are eligible or not, you can wait til later to apply.

[HotI]

double

[~Hestia~]

Yes HotI is right, you estimate the 6 months post birth income.

[briggsy's girl]

If your estimated income for the six months is close to the limit you are asked to provide proof that you won't exceed that limit

[~Hestia~]

Yep we had to provide payslips when we applied both times.