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  1. #1
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    Default Centerlink ftb pay back?

    I'm doing the budget for when I'm on maternity leave. Potentially I won't earn an income in the 2016/17 financial if I don't return to work and according to the centerlink calculators we will be entitled to some ftb.
    If I return to work for part of the year I will only earn a fraction of my income for the year, but high enough to loose most benefits.
    ( if I return it will be mid January 2017)

    So my question is, if i start the year and estimate no income, but then we realise I need to return to work do we need to pay back the $$ that have already been given?

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    In short, yes you will have to pay it back... at the end of the financial year they will reconcile your income and your DH's income and work out if you've been overpaid or underpaid, if its underpaid you'll get back pay and supplements if its overpaid they will take it from the supplements first, then you may end up with a debt...

  3. #3
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    Thanks. Just wondering where the incentive for women to return to the workforce is then, if they're going to pay back good chunk if what they earn.

    Taking into account the potential 6 months of childcare ( and other work related expenses) it may not be worth me returning that financial year.

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    When I have been in these situations I still put that I will earn a small amount just incase I do return to work. So I am still getting ftb but a smaller amount and if I return to work I adjust it and dont normally end up owing any money. If I dont return to work I get paid at tax time any ftb owing to me

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    Quote Originally Posted by HappyBovine View Post
    They will quarantine FTB B and you won't have to pay that back. I didn't when I returned to work part way through the year.
    So you just stop receiving it? I'm ok with that, just don't want a big bill to pay if we can't live off one wage ( but also don't want to wait until tax time should we be entitled to fortnightly benefits). I might need to call to clarify closer to the date.

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    Why don't you elect to just receive base rate? That way you receive some payments. Go on this rate estimator and it should tell you what your entitled to.

    You can also switch between zero rate and base rate at any time

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    I've gone on based on calculator and it's given me a figure. It's just a scary thought that I would potentially have to pay back 1/4 of what I earn in the 6 months working ( I'll only go back pt). That's on the before tax rate too . Plus then the extra cost of childcare and transport to work ( and obviously the tax complications)

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    Thanks

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    If you plan to return to work that year factor that in when you estimate. Then you won't have to pay it back. I'm not sure of 'quarantining' but you will have to pay it back. You won't be entitled to those payments bc of such a high income in the 2nd half of the year thus you'll get a debt.
    Last edited by delirium; 19-01-2015 at 22:24.

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    I'm not, but we haven't gone without me earning at all, so we may realise that we can't live and sacrifice ( like we think we can) . Budget allows it, not sure if sanity will


 

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