Latest news with #FTB
Yahoo
2 days ago
- Business
- Yahoo
Centrelink cash boost over 400,000 Aussies have weeks left to confirm: 'Get what's yours'
You wouldn't leave money sitting on your front porch, would you? Yet, that's effectively what thousands of families are doing by not confirming their income with Centrelink. More than 170,000 Australian families who get Family Tax Benefit (FTB) and 240,000 families who get Child Care Subsidy (CCS) risk missing out on getting cash back through top-up or arrears payments. That's simply because they haven't confirmed their income for the 2023-24 financial year. Whether you receive FTB, or CCS, or both — the message is the same — confirm your income by June 30 and get what's yours. Services Australia has sent reminders to families to confirm their income, but unfortunately many are yet to act. RELATED $1,831 Centrelink payment change coming within weeks: 'You'll get more' Coles and Woolworths checkout move that there's no coming back from: 'Will only accelerate' Aussie couple making $1,200 a day from job anyone can do: 'Went off like an explosion' You might have to repay some or all of the FTB you received in 2023-24 You'll lose any additional top-up, arrears or supplement payments And if you were planning to lodge a lump sum claim, it will be too late after June 30. Your CCS payments will stop Your CCS will reduce to 0 per cent from 7 July 2025, meaning you'll have to pay full child care fees. To confirm your 2023-24 family income, you (and your partner if you have one) need to lodge your 2023-24 tax return with the Australian Taxation Office (ATO). Or, if you don't need to lodge a tax return, you can confirm your family income by advising Services Australia that you're not required to lodge, using your Centrelink online account through myGov or the Express Plus Centrelink app. If you're using the app, select More from your home screen, then select Advise tax non-lodgement. Not sure if you need to lodge a tax return? If there's a reason you can't confirm your income, you should call the Services Australia Families line to discuss your options. Each year Services Australia compares a family's income estimate with their actual income at the end of each financial year (this is called balancing). Most families tend to overestimate their income, so they get a handy top up or supplement payment at the end of the financial year. For more information head to Service Australia's website. * Figures based on Services Australia data, April 30, in to access your portfolio
RTÉ News
6 days ago
- Business
- RTÉ News
Mortgage approvals continued to grow in April as first-time buyer activity reached new highs – latest figures from BPFI
There were 2,922 first-time buyer (FTB) approvals valued at almost €1 billion (€965m) in April, according to the latest figures from the Banking and Payments Federation of Ireland's Mortgage Approvals Report. The report shows the highest April FTB levels since the data series began in 2011. The number of mortgages approved rose by 4.7% month-on-month and by 5.8% compared with the same period last year. 31,853 FTB mortgages valued at almost €10 billion (€9,999m) were approved in the twelve months ending April 2025, the highest activity levels since the data series began. Commenting on the publication of the latest data, BPFI Chief Executive Brian Hayes said: "The latest mortgage figures show continued growth in approvals in April 2025, with volumes up by 5.8% year on year and values up 13.6% over the same period." "We can see from today's figures that lenders are supporting more and more FTBs, which points to a healthy pipeline for lending in the coming months," he said. "However, FTB housing demand is also growing, as evidenced by the 14,554 applications for Help to Buy in the first three months of 2025. This is up from 9,991 in the same period of 2024," said Mr Hayes.
Evening Standard
21-05-2025
- Business
- Evening Standard
Mortgage before marriage: over half of Londoners prioritise saving for a house deposit over a wedding
There seems to be a disconnect between what first-time buyers in London expect to pay as a deposit and what is actually required. The research found they thought £39,800 a sufficient amount; however, while some London boroughs are cheaper than others, the average FTB deposit in the capital is currently £138,800, a difference of £99,000. It's likely that, for many, the Bank of Mum and Dad is making up the shortfall; 37 per cent of FTB Londoners expect to receive financial help to buy a home, compared to 25 per cent nationally.
Yahoo
12-05-2025
- Health
- Yahoo
Centrelink warning as Aussies risk losing $100 a day: '63-day grace period'
The global measles outbreak is a reminder to us all about the importance of vaccination. We're a third of the way through the year, and Australia has already recorded more than 60 measles cases – almost matching the entire number from last year. So, parents, this is your reminder to check your child's immunisation status today. If you have young children, their immunisation status may impact your Family Tax benefit and Child Care Subsidy Assistance. What does this mean? I'll explain. Centrelink warning over $631 payment: 'A bit dodgy' $6 million cost Coles and Woolworths pay that Aldi refuses to cave on Accountant reveals $37 meal expense the ATO lets workers claim on tax: 'Without a receipt' Failing to immunise your child or not immunising them on time in line with the National Immunisation Program (NIP) childhood schedule can affect your government benefits. To receive Child Care Subsidy (CCS), Additional Child Care Subsidy (ACCS), or your full income-tested rate of Family Tax Benefit (FTB) Part A, your child must be up to date with their early childhood vaccinations or on a catch-up schedule to meet immunisation medical exemptions may be granted for valid medical reasons, but personal or philosophical objections will not be considered. An exemption may also be granted in specific instances, including the risk of family violence. There is a 63-day grace period if your child's immunisation is overdue, but after that, CCS will stop and the amount of Family Tax Benefit Part A you get will start reducing by up to $34.44 per fortnight, which is nearly $900 a year, for each child not meeting the immunisation requirements. To put this into perspective, full child care fees can be upwards of $100 per day. The difference between paying full child care fees or having these fees reduced through CCS, in addition to your FTB Part A reduction, may make or break the family bank. Families can use the Payment and Service Finder to find out how much FTB and CCS they could get. In states like New South Wales and South Australia, the 'no jab, no play' legislation means children must be fully immunised or on an approved catch-up schedule to attend child care. In other states and territories, children can attend child care if they're not immunised. However, child care providers have the right to cancel or refuse enrolment based on a child's immunisation status. And if an outbreak occurs, children who are not immunised may be excluded for a period of time. For more information on the different state and territory requirements, head here. You can get your child's immunisation history statement using your Medicare online account through myGov. There's a step-by-step guide on how to do this here. This history statement lists all the immunisations your child has received that have been reported to the Australian Immunisation Register and any that are overdue or will be due soon. You can talk to your health professional to book an appointment or organise catch-up vaccinations. If you don't have a myGov account linked to Medicare, you'll need to set that up first. Alternatively, there are other ways you can access their vaccination information – check the Services Australia website to find out while retrieving data Sign in to access your portfolio Error while retrieving data
RTÉ News
29-04-2025
- Business
- RTÉ News
Average home mortgage drawdown hits new record high in first quarter
New figures from Banking and Payments Federation Ireland show that the average home mortgage drawdown value reached €327,972 in the the first quarter of 2025 - the highest level on record. BPFI's latest figures show that a total of 9,190 new mortgages worth €2.807 billion were drawn down by borrowers during the first three months of the year - an increase of 10.3% in volume and 19.1% in value on the same time last year. It noted that first-time buyers remained the single largest segment by volume (57.8%) and by value (59.1%), while re-mortgage/switching volumes and values increased by 18.7% and 30.6% year on year respectively. BPFI also published its Mortgage Approvals Report for March, which showed that a total of 4,492 mortgages were approved during the month. Some 2,736 were for first time buyers (60.9% of total volume), while mover purchasers accounted for 848 (18.9%). The number of mortgages approved in March rose by 31.3% month-on-month and by 18.9% year-on-year. Mortgages approved in March 2025 were valued at €1.428 billion - of which FTBs accounted for 62.4% and mover purchasers accounted for 22.5%. BPFI said the value of mortgage approvals rose by 32.5% month-on-month and by 29.7% year-on-year. Meanwhile, re-mortgage/switching activity rose by 77.1% year on year in volume terms and by 100.4% in value. Brian Hayes, chief executive of BPFI, said that reflecting trends in housing prices, the average home mortgage drawdown value reached its highest level on record at €327,972 in the first quarter of 2025. He said this was driven by significant increases in average drawdowns on secondhand homes. "The average FTB mortgage on secondhand properties exceeded €300,000 for the first time, increasing by 9.7% year on year to €302,018, more than double the average drawdown in the first quarter of 2014," he said. "The average mover purchase mortgage on secondhand properties increased by 9.6% to a new high of €370,790," he added.
