Centrelink payment warning over looming deadline: 'Don't miss out'
Services Australia has issued a warning to mums and dads who received the Family Tax Benefit (FTB) last financial year. Recipients have until June 30 to submit their income for the year, and they've been given a nudge to get their details ready.
If you submit your income to Centrelink, it can entitle you to additional cash and other supplements. However, if you fail to report, you could be left with no extra support, or worse.
"Don't miss out," Services Australia said.
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"If you didn't confirm your family income, you may have missed out on top-ups and supplements.
"You may also get a debt and have to repay the amount you got during the financial year."The FTB is given to parents for each eligible child, and that amount is determined by your adjusted taxable income, income test, your child's age, and the number of children you have.
The base rate for FTB Part A is $71.26 for each child per fortnight, and the maximum depends on how old the child is, but goes up to $288.82 every two weeks.
You can also receive the FTB as a lump sum.
The payment runs from the start to the end of the financial year.
But just before you receive your final payment, Services Australia will "balance" your account.
"This is so we can check we paid you the right amount of Family Tax Benefit and Child Care Subsidy. We balance these separately," it said.
Submitting your income by June 30 will give the government body all the information it needs to ensure this balance is properly carried out.
This is where you could receive top-ups or supplements if the numbers are a bit off.
There are two ways you can report your income to Services Australia:
Lodge a tax return with the Australian Taxation Office (ATO)
With your Centrelink online account through myGov or the Centrelink app
The ATO will pass on your income details to Centrelink, and it will use that information to balance your FTB.
But even if the ATO extends your lodgement date for your tax return, it doesn't change the June 30 deadline for reporting your income for the FTB.
Services Australia will also need your partner to submit their income if they were with you during the 2023-24 financial year.
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