Centrelink benefits

C

Chromium

Hi folks,

I am trying to workout my centrelink entitlements (if any).

Situation:

My salary income 100000
Rental income 15000 (90% of IP)
Rental expenses 28000 (90% of IP)

Wife's salary income 6000
Rental income 1500 (10% of IP)
Rental expenses 2800 (10% of IP)

2 kids under 8 years.

Interested in knowing how centrelink calculates FTB A and FTB B ?

Is there anyone else in similar situation ? Which accountant do they use ?
 
The IP is negatively geared so possibly your wife will get something based on your income, but I have never been able to work out Centrelink benefits. If you call Centrelink and give them the figures, they will tell you. You can also use their on-line calculator, but as I said, I get confused about how they treat negatively geared property...... something has to be added back on.

Some nice lady from Centrelink explained if for me once, but I think she may have been speaking a different language for the sense it made to me. Math is not my strongest subject :D.
 
You are referring to Family Assistance payments rather than centrelink benefits. You'd certainly be entitled to Part B and given your income with 2 kids, probably some part A.

go to www.familyassist.gov.au and I think there is a basic calculator there.
 
I know they add your negatively geared rental back on to calculate HECS repayments but no idea about Centrelink. I would call them with the figures as wylie suggests. :)
 
ezza said:
I know they add your negatively geared rental back on to calculate HECS repayments but no idea about Centrelink. I would call them with the figures as wylie suggests. :)
Click to expand...


they do...but there is also a hell of a lot more to it!

the only way to get a straight answer is to go down there, stand in line for hours and hopefully find some nice person who will answer all your issues!!
 
Actually, just did some research on this, as we are just about to have our 2nd child.

For us, not good. Not only do we lose the $5k baby bonus that we were entitled to under the Howard Government, but we also are not entitled to any child care benefits under the Rudd Government. But I'm happy, our hard earned dollars are being shelled out via the $52 billion bailout to low-income families who can now spend on alcohol, holidays, etc. Bit harsh, I know, but geez you work all your life to get ahead of the pack, and you get a kick in the guts.

http://www.deewr.gov.au/EarlyChildhood/OfficeOfEarlyChildhood/cctr/Pages/ChildCareTaxRebate.aspx
 
wylie said:
The IP is negatively geared so possibly your wife will get something based on your income, but I have never been able to work out Centrelink benefits. If you call Centrelink and give them the figures, they will tell you. You can also use their on-line calculator, but as I said, I get confused about how they treat negatively geared property...... something has to be added back on.

Some nice lady from Centrelink explained if for me once, but I think she may have been speaking a different language for the sense it made to me. Math is not my strongest subject :D.
Click to expand...

Its not your math its theirs. I am very confussed that they calculate my wife having an income of $7k when she has an income of $0 (as she doesn't work) and makes a $7000 loss on her share of the IP.
 
Hi GoAnna,

Yes...I am / will be claiming back 50% out of pocket expenses...
that would be for Childcare and ( as of this year) educational expenses...

However..I reckon our rental income is added on to our salaried income
which increases our threshold and hence we will be will be missing out on
recent Govt handouts.

But then I am -vely geared...so isn't that taken into consideration ?
 
The_Bludger said:
Actually, just did some research on this, as we are just about to have our 2nd child.

For us, not good. Not only do we lose the $5k baby bonus that we were entitled to under the Howard Government, but we also are not entitled to any child care benefits under the Rudd Government. But I'm happy, our hard earned dollars are being shelled out via the $52 billion bailout to low-income families who can now spend on alcohol, holidays, etc. Bit harsh, I know, but geez you work all your life to get ahead of the pack, and you get a kick in the guts.

http://www.deewr.gov.au/EarlyChildhood/OfficeOfEarlyChildhood/cctr/Pages/ChildCareTaxRebate.aspx
Click to expand...

¥ou may not be entitled to CCB but you are entitled to the 50% out of pocket rebate. It is not means tested.
 
Hoffy said:
¥ou may not be entitled to CCB but you are entitled to the 50% out of pocket rebate. It is not means tested.
Click to expand...



Actually, that's not quite right. You are correct in saying that the 50% rebate is not means tested, BUT, you have to qualify for the CCB to be eligible. So, given we do not qualify for the CCB, we don't get 50% rebate. It's a little confusing, actually misleading. Typical of the Rudd Government.
 
The_Bludger said:
Actually, just did some research on this, as we are just about to have our 2nd child.

For us, not good. Not only do we lose the $5k baby bonus that we were entitled to under the Howard Government, but we also are not entitled to any child care benefits under the Rudd Government. But I'm happy, our hard earned dollars are being shelled out via the $52 billion bailout to low-income families who can now spend on alcohol, holidays, etc. Bit harsh, I know, but geez you work all your life to get ahead of the pack, and you get a kick in the guts.

http://www.deewr.gov.au/EarlyChildhood/OfficeOfEarlyChildhood/cctr/Pages/ChildCareTaxRebate.aspx
Click to expand...

yeah them poor low income families or families with actual disabilities how dare they get a handout btw when we had our first child we got $700 baby bonus and missed out on the other extra payments as our child was born in 2000 not everyone spends money on alchol holidays etc actual most single mothers I know are paying bills etc which they were struggling with before, you know paying up those waste things like phones electricity, and yes I was on disability so I have a right to whinge as I worked from 12yr old untill I had injury when I was 21 now I also don't get the hand out made possible from investing as we earn to much but I know some others that are really struggling and I am happy they are getting a bit of a help there will always be the bludgers who will go and spend up on alc/hol/waste products but remember their are those who legitmatley are very thankful for what happened my wifes cousin is one of them he is in a wheel chair and hasn't been able to do much since he was born with a a problem with his hands and legs and always in casts before going to the wheel chair only young but he can't work he gets around $350 a fortnight has to share and doesnt usually have anything left so he paid all his bills up with the handout, then I have other mates that work bloody hard like qualified butchers have 3 kids to support and there base wage is $600 a week they work 4yrs first 3yrs on a low income to get a measly $600 a week base wage, I would say this person who has stuck to a butcher Apprenticeship for 4yrs and stays on a low wage doing bloody hard work such as breaking beef cuts and putting up with the general public having a whinge sometimes when the cut aint just right, sure as hell worked is guts out to get a kick in the guts as some of his mates go and earn up to 100k a yr with no qualifications and get 5 days off so yep I am bloody greatful that some people I know are getting the $950 handout as they need it alot more then we do, don't forget where you came from.
 
You still get your childcare 50% back from out of pocket $ no matter what you earn together. Make sure you apply for the CCB even if it is $0 on the childcare provider records and you will then be in the 'system' to get your 50% back quarterly.

You just need to pass the work/study test thing on the web site (familyassist.gov.au) which is answering a few questions. You and wife both pass. Look into it as you will probably get back paid if you have all the childcare receipts etc.

What's the story with the baby bonus?
 
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