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  1. #1
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    Default Balancing family tax payments

    It looks like i'm getting a lump sum back from family tax A and B. I'm new to this and don't understand why it wouldn't have just been paid properly in my fortnightly payments since it is my only income at the moment (no other income to estimate). Can anyone explain why and if i should be doing something different next year to get it fortnightly?

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    Default Balancing family tax payments

    You do get a lump sum payment for family tax a and b supplement at the end of the financial year but it could also be a top up payment (they haven't paid you enough throughout the year). If you have been receiving fortnightly payments throughout the year then it will be either/both of the payments I said above.

    Eta: It will say on the letter you received what the payments are for i.e mine said supplement payment a -xyz
    Supplement payment b -xyz
    Family tax b arrears payment (top up payment) -xyz
    Last edited by Happymum2; 28-07-2016 at 12:16.

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    NAT2561  (28-07-2016)

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    The supplement is an amount that they withhold from your fortnightly ftb payments throughout the financial year. If you have underestimated and end up owing them money at the end of balancing, it's taken from there first. I suppose it's their way of making sure people don't end up too far in debt.

    If you've correctly or over estimated, it's just a good forced savings each year

    The Liberals are planning to phase it out over the next few years though.

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    BornToBe  (28-07-2016),NAT2561  (28-07-2016)

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    Following.... As I'm confused about all this. Yes....still....

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    Oh ok. Good answer. Thanks. I did notice that there were two different ones and one was a supplement. Didn't realise everyone had that. And i also have some other. Ok...well i guess its an unexpected bonus then. I'll have fun with that...putting tyres on the car and other such 'fun' things...ha!

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    Happymum2  (28-07-2016)


 

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