Hi everyone, so I'm currently 4 months pregnant and needing some advice over entitlments once bubs comes along.
I meet all the criteria for the paid parental leave. But I was told if you receive this you DO NOT receive family tax benefit a or b. Is this correct?
Don't get me wrong I'm VERY gratful to receive any money at all.
I'm married with a 2.5 DD who I receive family tax a and b for and she is in family daycare 2 days a week and I receive the child care rebate.
As I only work part time and my DH is in the building industry (he has more slow weeks then good weeks lately.. I need to find the best option for my family once baby comes.
Do I still receive my family tax a and b benefits and childcare rebate if I choose the paid leave over the baby bonus? thank you for reading this
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28-12-2011 18:33 #1
Confusion over paid parental leave and the baby bonus
28-12-2011 18:42 #2
you will still be entiltled to part a if you qualify it is only part b that you can not claim while receiving PPL
28-12-2011 18:46 #3
Here's a link to info on the PPL scheme - http://www.familyassist.gov.au/payme...-leave-scheme/
Look at the calculator & it will give you more information for you.
You don't get FTB B during the time you are paid your PPL (18 weeks) but I would imagine unless you're in a very high tax bracket the PPL is still better for you.
I get $1000/fortnight in PPL and that's after they take out 15% tax. I have to earn over $37,000 (in a year) to be taxed at a higher rate. My pay varies far too much for me to even bother with estimating, so I claim FTB at the end of the financial year.
The PPL doesn't affect the child care rebate, nor does the baby bonus.
The baby bonus is $5000, but for me after the 15% tax will be $9000 so it's the best option for me by far.
By shy in forum Family FinancesReplies: 4Last Post: 20-09-2012, 15:24
By Cricket29 in forum Family FinancesReplies: 3Last Post: 18-08-2012, 18:40
By Doc in forum Family FinancesReplies: 6Last Post: 10-03-2012, 18:04
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