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  1. #1
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    Default Tax Return Question

    Hi All you Bub-hubbers!

    I have a question relating to tax refunds and FTB. My partner and I currently earn enough to only qualify for the base rate of FTB A and so we are electing to get it as a lump sum at the end of the financial year (as we don't miss $20 per week, but $1200 in a lump sum does make a difference).

    I have been doing a little summary on the ATO website of roughly what we should get back/owe in tax. I'm wondering if anyone knows if the ATO can use your FTB A lump sum that you are owed to pay your tax debt? The reason I ask is because I know that I will owe some money as I have a HECS debt that is not currently being paid from PAYG. If the tax office will take Charlotte's money to pay this debt, I would rather her father (my partner) claim it back as he will be definitely entitled to a refund this year. I do both our taxes anyway, and it goes into my account anyway, but just wondering as I would rather pay off my tax debt in installments and use our lump sum payments to ensure we have enough money in savings for our wedding in September.

    Any help greatly appreciated!

  2. #2
    BH-KatiesMum's Avatar
    BH-KatiesMum is offline Community Manager
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    Hi

    I am not 100% sure, but I do think that they offset your FTB (A and B) off against any tax debt owed .....

    The ATO does not like giving out extra money, then having you pay it back in instalments, so if there is a way for you to claim it in your DP's return I would do that.

    (For the record I am an accountant - but have worked in tax for a few years now....)

  3. #3
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    Thanks for the information Katiesmum! I thought that would be the case, and just to be sure I thought I would just claim it on DP's return.


 

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