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  1. #1
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    Default Childcare rebate benefit and tax time

    Do we do something with our tax returns now that I am using Childcare? I'm getting a rebate and benefit and at the start I was paying the Childcare centre but they didnt take off my benefit and rebate. Took a month to get that started so a month of full fees

    So I'm wondering what I do at tax time to make sure I have paid the correct amount and they have given me the correct amount.
    I'm thinking of going to a tax man this year biut no idea as to what to do!!

  2. #2
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    It should all be done automatically when you give centrelink you taxable income for 2013 or advise of non-lodgement. They will work out what you should have been paid against what was paid and either refund the difference or you will get a letter about overpayment and how to go about paying it.

  3. #3
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    You lodge your tax return as normal and before it is actually processed it goes through the centrelink system, so if you do not pay enough and taxable income too high they take straight from any refund. Then sent a bill if anymore. If they owe you then they re calculate and give it back to you. I suggest you chasing this up and reporting actual income etc because if you wait for them to do it I know a couple of families who ônly got there money back last month ish and lodged back in August.
    You are also entitled to that 15% of the rebate in which they hold for under reporting.

  4. #4
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    Thanks guys
    So noms tell centrelink our actually income when we get the group certificate this year?
    I'm pretty sure I under estimated by accident.. But I would be guessing again if I told them now. I get paid overtime and weekend penalties sometimes which is why I don't know what I get until the end of tax time

  5. #5
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    No not when you get your group certificates when you lodge your tax return. As your grou certificate is raw income, then you make deductions against your income ( work related clothing etc) this bring your taxable income down. So you lodge, then once you get your notice of assessment in the mail then you can call up or actually do online now.

    If you underestimated they will take straight from your refund.

    It's always best practice to over estimate .... How much do y think you might be out. Maybe you can adjust now your nome.

  6. #6
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    Still better to guess and over estimate as you get it back. If you under estimate too much, I think up to 2 years in a row they no longer allow you to get centrelink or rebate on a fortnightly/ quartly or however you get it.. They make you go yearly as they can't trust you and you may be payable again.
    Not always your fault it's hard to predict income but its to protect them so you are not continually payable to them.

  7. #7
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    Thanks for the info noms. I think I have under estimated by about $30,000 between dh and I. I set all this up while on mat leave so I don't know where my brain was at the time!
    Will call them to up it and hopefully I'm guessing correctly. Would rather them pay me back of course!

  8. #8
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    Whoa $30,000 is a lot to be out by! I would change your estimate ASAP as its likely you will owe them. Even stop payments to financial year...
    Do you get FTB A& B?

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    Yeh I will try call them as soon as I can..
    No we don't get the a & b benefits..

  10. #10
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    I just updated it in centrelink online and I now get 0% benefit . Before I got something like 15%
    Do I tell my Childcare lady now that I get 0? Will she bill me extra for this week now! I just paid for the following week. I hope this doesn't stuff her around too much changing the payment..


 

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