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Old Jan 29th 2011 | 9:13 pm
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Default Family Tax Benefit

If someone could clarify my query re-above that would be great.

Been here 9 weeks and neither of us are working yet.My Aussie neighbour was chatting to me one day and has insisted that we must apply for something called Family Tax Benefit which I took to be something like the UK Family Allowance(not sure if it's still called that?).

Anyhow,we are certainly not people who have an inclination towards State support but she was insistant that you get this even though you are working and earning.She told me that as long as we have permanent Residency then we qualify.So before I go making an arse of myself,my kids are 15,13 and 7 and all still at school so what do you think ?Do I apply or not ?
 
Old Jan 29th 2011 | 9:39 pm
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Default Re: Family Tax Benefit

Originally Posted by shirlw
If someone could clarify my query re-above that would be great.

Been here 9 weeks and neither of us are working yet.My Aussie neighbour was chatting to me one day and has insisted that we must apply for something called Family Tax Benefit which I took to be something like the UK Family Allowance(not sure if it's still called that?).

Anyhow,we are certainly not people who have an inclination towards State support but she was insistant that you get this even though you are working and earning.She told me that as long as we have permanent Residency then we qualify.So before I go making an arse of myself,my kids are 15,13 and 7 and all still at school so what do you think ?Do I apply or not ?
http://www.familyassist.gov.au/payments/

Credit A is household income for the year. Can be paid during the year on income estimate, or lump at the end of the year. Credit B is paid is only one of you is working.

Credit A also gives you access to education tax benefits etc. With 3 kids, I think you'd have get it easily, and you even get large family benefit for 3.

http://www.familyassist.gov.au/payme...ment-rates.php

Go down your local centrelink/family assistance office. You might wait a while but they are friendly and helpful.
 
Old Jan 30th 2011 | 11:26 am
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Default Re: Family Tax Benefit

Thanks for that datamile,will wait for TFN to come through first then give it a go.
 
Old Jan 30th 2011 | 11:53 am
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Default Re: Family Tax Benefit

You'll also get a centrelink number, but they are all linked together ( TFN/Drive Lic ). You might already have one if you've had an assuror bond.
 
Old Jan 30th 2011 | 2:15 pm
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Default Re: Family Tax Benefit

Family Tax Benefit is one benefit that does not come under the 2 years benefits exclusion for new migrants.

There is a household income threshold, which means at about $100,000+ per annum, it may begin to cut out.

In your situation there will be no FBT part A when income is over $136,644, but only the base rate is payable over $100,321.

And then there is the Family Tax Benefit Part B which is limited to families where the primary earner has an adjusted taxable income of $150,000 per year or less.


There is normally a bit of a wait to get served by Centrelink, but at the moment it may be worse....

Due to increased demand as a result of flooding, there may be delays with some services. We apologise for any inconvenience.
http://www.centrelink.gov.au
 
Old Jan 30th 2011 | 3:13 pm
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Default Re: Family Tax Benefit

Originally Posted by ABCDiamond
Family Tax Benefit is one benefit that does not come under the 2 years benefits exclusion for new migrants.

There is a household income threshold, which means at about $100,000+ per annum, it may begin to cut out.

In your situation there will be no FBT part A when income is over $136,644, but only the base rate is payable over $100,321.

And then there is the Family Tax Benefit Part B which is limited to families where the primary earner has an adjusted taxable income of $150,000 per year or less.


There is normally a bit of a wait to get served by Centrelink, but at the moment it may be worse....
Thanks for that ABCDiamond,I'm not in a rush but it is nice to know that it is available.I'll wait another couple of weeks and see what turns up on the job front too.
 
Old Jan 30th 2011 | 3:21 pm
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Default Re: Family Tax Benefit

If you're in no immediate need for the money , or if hard to estimate your income, then it can be claimed as a lump sum at the end of tax year ( 1-july ).
 
Old Jan 30th 2011 | 3:44 pm
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Default Re: Family Tax Benefit

Originally Posted by datamile
If you're in no immediate need for the money , or if hard to estimate your income, then it can be claimed as a lump sum at the end of tax year ( 1-july ).
AFAIK You also have to be on family tax benefit to claim the education rebate, of 800 bucks per secondary child and 400 bucks per primary. You claim against things like books and computers, peripherals and internet etc etc.

Dont be afraid to claim these things, because when the boot is on the other foot, the tax man will certainly want his pound of flesh.

Totally different system here because of the means tested benefits. For that reason you must claim. Do not do your own tax... Do not go to HR Block... do Try and find a tax accountant that understands the Family tax system.
 
Old Jan 30th 2011 | 8:57 pm
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Default Re: Family Tax Benefit

Originally Posted by ozzieeagle
AFAIK You also have to be on family tax benefit to claim the education rebate, of 800 bucks per secondary child and 400 bucks per primary. You claim against things like books and computers, peripherals and internet etc etc.

Dont be afraid to claim these things, because when the boot is on the other foot, the tax man will certainly want his pound of flesh.

Totally different system here because of the means tested benefits. For that reason you must claim. Do not do your own tax... Do not go to HR Block... do Try and find a tax accountant that understands the Family tax system.
Hubby went to see an accountant today who gave him the do's and don'ts for the time being which helped put things into perspective.I've heard about the education rebates so have dutifully kept my receipts for when the time comes.Avoiding the "pound of flesh" is upermost in our minds as we still have some monies due from overseas property.Still a minefield to tiptoe through though !
 
Old Jan 30th 2011 | 10:34 pm
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Default Re: Family Tax Benefit

Originally Posted by shirlw
Hubby went to see an accountant today who gave him the do's and don'ts for the time being which helped put things into perspective.I've heard about the education rebates so have dutifully kept my receipts for when the time comes.Avoiding the "pound of flesh" is upermost in our minds as we still have some monies due from overseas property.Still a minefield to tiptoe through though !
Tips to others reading this thread. Tax rebate time here, is quite often more about gaining yourself a cash bonus than paying any tax... hence the accountant.. doing it yourself will often mean you miss out on little known loopholes. I've been to recommended tax agents in the past that were supposed to be highly recommended that have cost me literally 1,000's in claims... especially family tax refunds. Gets really complicated if you or your partner also work in a government hospital and they receive salary packaging. Intermittent Overtime also plays havoc with the family tax benefit. So it's probably best to claim at the end of the year.
 
Old Jan 31st 2011 | 10:34 am
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Default Re: Family Tax Benefit

That will most probably be our route so thanks,will keep this in mind.
 
Old Jan 31st 2011 | 10:37 am
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Default Re: Family Tax Benefit

Originally Posted by ozzieeagle
Tips to others reading this thread. Tax rebate time here, is quite often more about gaining yourself a cash bonus than paying any tax... hence the accountant.. doing it yourself will often mean you miss out on little known loopholes. I've been to recommended tax agents in the past that were supposed to be highly recommended that have cost me literally 1,000's in claims... especially family tax refunds. Gets really complicated if you or your partner also work in a government hospital and they receive salary packaging. Intermittent Overtime also plays havoc with the family tax benefit. So it's probably best to claim at the end of the year.
What is tax rebate time and what are we supposed to do?
 
Old Jan 31st 2011 | 10:47 am
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Default Re: Family Tax Benefit

Originally Posted by Alfresco
What is tax rebate time and what are we supposed to do?
Do your tax return, between July and October, and see how much rebate you can claim back
 
Old Jan 31st 2011 | 10:52 am
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Default Re: Family Tax Benefit

Originally Posted by ABCDiamond
Do your tax return, between July and October, and see how much rebate you can claim back
Well my wife only started work in November last year. I'm not currently working.

So we''ll wait for next financial year I assume.
 
Old Jan 31st 2011 | 11:04 am
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Default Re: Family Tax Benefit

Originally Posted by Alfresco
Well my wife only started work in November last year. I'm not currently working.

So we''ll wait for next financial year I assume.
In July, you will do the return for your income(s) from November, and work out how much tax you want to pay... sorry (have to pay), and then you get back the overpayment. Normal time for refund is within 14 days of claiming.

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