For all of our clients that are habitually late or are a few years behind and plan on claiming (or trying to) Family Tax Benefit (FTB).
In the May 2013 Federal Budget, changes were announced that reduce the period of time that families have to claim and/or provide information for family assistance payments.
From the 2012-13 financial year onwards, you now have one year instead of two years to:
- submit a lump sum claim for Family Tax Benefit, and /or Child Care Benefit
- confirm your income for Family Tax Benefit – this means that you and your partner (if you have one) need to lodge your tax return/s with the Australian Taxation Office, or tell us that you do not need to lodge a tax return, and
- ensure that your child/ren has/have met any immunisation or health check requirements for the relevant financial years.
You will also have one year instead of two years to submit a claim and confirm your income for payment of the Single Income Family Supplement.
It is important that you are aware of the reduced period of time so that you do not miss out on your full entitlements, including Family Tax Benefit supplements and the Child Care Rebate.
What you need to do
If you have not already claimed family assistance payments for the 2012-2013 financial year, and you intend to do so, you will need to submit a claim and confirm your income by 30 June 2014