Urgent Reminder from Services Australia: Family Tax Benefit Deadline Approaches
Services Australia has issued a crucial warning for recipients of the Family Tax Benefit (FTB): the deadline to submit important claims is fast approaching. Parents and guardians receiving FTB can choose to receive their payments either in fortnightly instalments or as a lump sum.
For those opting for the lump sum, submissions must be made to Services Australia by 30 June. This deadline pertains specifically to those who received FTB during the 2023-24 financial year. As highlighted by Services Australia, failing to submit a claim could result in missing out on valuable payments.
“If you didn’t claim FTB during the financial year, you need to do it now. If you don’t, you may miss out on payments,” a spokesperson cautioned. When it comes to the claims process, recipients will be required to provide their household income for the relevant financial year, which includes the income of both the claimant and their partner, regardless of whether the partner is a Centrelink recipient.
To facilitate this process, income can be reported directly to Services Australia or through a tax return submitted to the Australian Taxation Office (ATO). The most straightforward method is to use the online platform connected to your myGov account.
For those using the myGov app, navigate from the home screen by selecting More and then Advise tax non-lodgement. If you encounter difficulties confirming your income, it’s advisable to reach out to the Services Australia Families line for assistance.
General Manager Hank Jongen stated that confirming income helps determine the eligible amount families may receive. Many families often overestimate their income, leading to unexpected top-ups or supplements at the end of the financial year. “You wouldn’t leave money sitting on your front porch, would you? Yet, that’s effectively what thousands of families are doing by not confirming their income with Centrelink,” Jongen emphasised.
It is important to note that the annual income thresholds at which FTB Part A may not be disbursed for the 2023-24 financial year range between $117,348 and $206,858. These limits vary based on the number of children and their ages. If you’re sharing caring responsibilities for a child, Services Australia will consider your percentage of care when calculating your rate.
Services Australia has also issued warnings about failing to make claims by the 30 June deadline. Those who do not submit a claim within the 12-month period may receive an account payable notice, which will require repayment of the FTB amount already received for that financial year.
To sum up, if you are a Family Tax Benefit recipient, act quickly to ensure your claim is submitted before the June 30 deadline to avoid potential losses and complications.
