^^ The baby bonus is now income tested and will be paid in installments instead of a lump sum.
Centrelink benefits
- Thread starter Chromium
- Start date
Yeah, is that right? Well four of my mates are getting the handouts, as well as these four mates getting the previous hand outs. In order, they did the following with the money.
1. Went into the bank
2. Went to Merimbula for a holiday
3. Bought a spanker LCD 50 inch TV
4. Bought an air gun
None of them used it to pay bills or help their families because they were struggling. That's because they get by and manage their current incomes. If they go out and splurge and max their credit cards when they can't afford to, sorry, it's their fault not mine. You call this struggling, pfft.
But yes, I agree, "some" people need it. Perhapsh the Government should have spent more time identifying who really needed it, instead of putting each Australian in over $9k debt.
Do you miss out based on the work/study criteria? We have a 0% CCB entitlement but do get the 50% out of pocket rebate.
To qualify you need to be using your time in an approved way such as working or studying. It is not means tested. If you are found to be eligible but your income is too high to receive any CCB payments you will be deemed as eligible for zero and this will entitle you to 50% rebate. I am 100% sure of this.
Hmmm, interesting. I will follow that up Anna. I had an accountant point out to me that I wasn't eligible at all. But what you are saying makes sense. Thanks!
I am assuming you are doing the same if you are 100% sure of this?
There is no ambiguity about this. The accountant is simply wrong. Regardless of what your income is, as long as you meet the Work, Training or Study requirements, you are entitled to the rebate.
As I said before, we have 0% CCB entitlement but are in receipt of the quarterly Child Care Tax Rebate.
This one has baffled both me and my wife too regarding the 50% rebate. My wife is a stay at home Mum (2 kids under 3). One is in childcare two days a week and I cannot get CCB entitlement.
Regarding the work, training, study requirements, my wife is paid $200 p.w. from my trust which is declared each year to the ATO for book keeping and maintaining all the records for our properties. Would this qualify for their work requirements?
I do not issue payslips, etc from the trust and my wife is also a director of the trustee company!
This is the thing that I quite didn't understand. You get zero entitlements for CCB, but you still get the 50% rebate on out of pocket child care payments. Well to me was ambiguos, but it's starting to make more sense now.
yes agreed instead of just handing it out to everyone but we all know the goverment hires brainless monkey's.
james w, the odd full stop would be fantastic!
Sorry I am not getting paid to write my thoughts here, People I write for get
the benefit of correct grammer and puncation.
Cale, if your wife is working (she sure is with 3 kids I'd say, hah!) and you could prove it to the tax office - if you ever got audited - then yes, she just needs to log into the family assist web site and make sure her info is all set up and she answers the questions to pass the Work/Train/Study test (all done over the internet) . Check with your accountant if you're not sure.
Can I ask does she pay tax given she is over the $6000 a year (on $200 a week) and does she pay some into her superannuation? If so does she get the $1500 co-contribution from the gov? Sorry to be nosy, just curious.
Back to you, remember she needs to get registered for the CCB even if it's for 0 so you are on the system. Doing all this is worth it for 50% back. Makes the cost almost reasonable
Can I ask does she pay tax given she is over the $6000 a year (on $200 a week) and does she pay some into her superannuation? If so does she get the $1500 co-contribution from the gov? Sorry to be nosy, just curious.
Back to you, remember she needs to get registered for the CCB even if it's for 0 so you are on the system. Doing all this is worth it for 50% back. Makes the cost almost reasonable
Cale, if your wife is working (she sure is with 3 kids I'd say, hah!) and you could prove it to the tax office - if you ever got audited - then yes, she just needs to log into the family assist web site and make sure her info is all set up and she answers the questions to pass the Work/Train/Study test (all done over the internet) . Check with your accountant if you're not sure.
Can I ask does she pay tax given she is over the $6000 a year (on $200 a week) and does she pay some into her superannuation? If so does she get the $1500 co-contribution from the gov? Sorry to be nosy, just curious.
Back to you, remember she needs to get registered for the CCB even if it's for 0 so you are on the system. Doing all this is worth it for 50% back. Makes the cost almost reasonable
I can prove to the tax office that she is earning money. When I spoke to my accountant, he forwarded a link to me which indicates that they assess due to hours, not income. Minimum of 15 hrs per week, or 30hrs per fortnight. This is a bit hard to determine though.
I spoke to my wife and she has registered for CCB with zero entitlement already. We do not do PAYG tax, as this will be sorted out at tax time where she will end up paying no tax, due to low income offset, etc.
We also have not paid any other money into her super other than a spouse contribution which I made, but if required happy to pay super on the income she is earning.
I have emailed the family assistance office (as their number is forever engaged) to request more information regarding this.
I finally got through to the Family Assistance office and they said that our situation passes the work, study, training test even though we cannot determine the hours my wife puts in.
They are backdating all our child care and are putting an amount into my wifes account for about $650 and all future child care will also get the rebate. WOO HOO!!
Also, our old child care has not given all the info to the FA office, so we need to get onto them and more money should be coming our way
They are backdating all our child care and are putting an amount into my wifes account for about $650 and all future child care will also get the rebate. WOO HOO!!
Also, our old child care has not given all the info to the FA office, so we need to get onto them and more money should be coming our way
Good stuff! I honestly couldn't see them failing your wife with the work test thingo. And remember you are keeping the childcare business ticking over too so it all swings around.
Glad you've got some extra cash coming your way. I'm in a similar situation as your wife and truly know what WORK is with kids and all the extra piled on top. she (and you) deserve some of the tax you shell out.
Happy for you! good work
Glad you've got some extra cash coming your way. I'm in a similar situation as your wife and truly know what WORK is with kids and all the extra piled on top. she (and you) deserve some of the tax you shell out.
Happy for you! good work
Getting back to FTB calculations, i made a little spreadsheet to estimate what someone could get via the FTB system, see attached.
It currently assumes that each kid you have is 5yo or below. It can factor in rent assistance too if applicable.
Feel free to use, but remember that it is not financial advice etc, just something i put together for my own purposes.
It currently assumes that each kid you have is 5yo or below. It can factor in rent assistance too if applicable.
Feel free to use, but remember that it is not financial advice etc, just something i put together for my own purposes.
Investing loss is added to your income!
The strangest thing I found out about centrelink and gov payments is that if you have losses from investments they add your losses to your income to work out your "centrelink" income which they then use to work out your entitlements.
This is at the top of my list of odd, weird and why do they do that stuff.
Guess what all of our investments now just seem to generate between $0 and $100 per year on paper. Funny how these things work! It is getting harder so we might not be able to keep it at that level for much longer. Oh well no one ever went broke making a profit.
Cheers
Graeme
The strangest thing I found out about centrelink and gov payments is that if you have losses from investments they add your losses to your income to work out your "centrelink" income which they then use to work out your entitlements.
This is at the top of my list of odd, weird and why do they do that stuff.
Guess what all of our investments now just seem to generate between $0 and $100 per year on paper. Funny how these things work! It is getting harder so we might not be able to keep it at that level for much longer. Oh well no one ever went broke making a profit.
Cheers
Graeme
This is about to change...if the legislations passes. From July 1 all investment losses, property or otherwise will be used to calculate not only centrelink but medicare levy, hecs repayments etc.
actually you are a ahead by alot if u own over 100k a year why would it be a kick in the gut if your much better off then majority of population ?? i say australia is more of a realistic communism then capital, i think thats still fair at end of the day u dont have as many people on the street doing crime and such compared to say USA. lets look at the bigger picture and the outa squares that we live in.
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