View Full Version : Ftb
Im just wondering if you still get your family tax benifit payments fortnightly when you have a hubby in the ADF or is it easier to get it at end of tax year?
Im not really sure what to do...
We get ours fortnightly, as we can't afford to pay our mortgage, CS, eat, pay bills etc, without it. It can be difficult, especially if they get a promotion or go to the gulf, but I try to over estimate, so those situations are covered. We still normally get out top up.:)
I get mine at tax time, well hopefully I will get something. That's more because I don't like dealing with Centrelink though.
We get ours fortnightly and i only get the base rate incase i underestimate so i have money owing anyway...entirely up to you but im not sure how navy works but make sure when you do tell them DP income you include the service allowance otherwise you will get a bill..
Its pretty acurate and you can always call them and change if he gets promoted or just up his earnings by 5 or 10K if your not desperate for cash...that way if your over you know you will get a bonus at tax time :p
I only get one of them and the other i get at tax time. I'd rather not have to worry about getting it wrong.
If you do decide to estimate via the payslip, make sure you include SGA (seagoing allowance) and any other allowances.
I basically estimated going from last years gross tax from the income tax return and added about $20,000 on top of that
Thanks Ladies.I think ill just keep it as fortnightly while were trying to pay for our wedding lol. DF is RAAF so I dont have to worry about SGA or anything but ill be sure to include any allowances to our estimate which i probably wouldnt have considered before so thank you very much!
I get mine fortnightly, and just make sure u over estimate so u don't have to pay any money back at tax time. Also, just let Centrelink know if u don't work, so u get your FTB supplement.:)
whats your FTB supplement?
I don't know exactly what it is for, but it is for families with only one spouse working. Ring up Centrelink and ask them about it. It is a payment u get at tax time. I think it is about $600 for each child. I don't know everything about it, as a girlfriend told me a couple of years ago, so I rang Centrelink and asked them.:)
The supplement is instead of centrelink increasing the benefit they brought in a supplement of $600 per child for the fact that people were underestimating and owing money at tax time. Now if they owe money it comes out of this supplement so hopefully they won't owe anything else. I am pretty good on this stuff because I got caught out when they first changed the system back in 2001. I get mine fortnightly but overestimate his income especially in case he goes bush as well.
you can have both people working to get FTA supplement as long as you don't go over the threshold.
:laughing:Well, there u go, I didn't know that!!
I will be only getting Tax B. Getting any Tax A the owe to me at the year of the tax year. If he goes Overseas, with the way they are doing it now. Then it would mean we will be over paid. I don't want no debt with them.
We get all our FTB at tax time - with all the unforeseen allowances throughout the year, I really don't want to be ringing FAO every 5 mins to update our estimate. So I let it all happen via the ATO so that it is always correct and its a nice bonus that comes through at the end of the FY. We just really try to live on one wage and do not take any FTB into account for our budget - not always easy but we think worth it at tax time.
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