The A and B Portions of the Family Tax Benefit

Key facts

• The Family Tax Benefit, also known as FTB, is a two-part payment that is provided to eligible families in order to assist with the costs of bringing up children.
• To be eligible for Part A of the Family Tax Benefit, you need to have a child who is eligible for the Family Tax Benefit (FTB) living with you, as well as meet certain residency and income requirements.
• Families with only one primary income and families with children cared for by someone other than a parent are eligible for additional assistance through the Family Tax Benefit Part B program.
• You have the option of receiving your Family Tax Benefit either in a single payment once a year or in two equal installments every two weeks.
• Your myGov account that is linked to Centrelink is the quickest and most convenient way to apply for the Family Tax Benefit.

The Family Tax Benefit, also known as FTB, is a two-part payment that is provided to eligible families in order to assist with the costs of bringing up children.

The Family Tax Benefit is composed of two parts, which are as follows:

• Part A is a payment that is made per child, and the amount varies depending on the situation of the family.
• Part B is a payment that is made per family in order to provide additional assistance to families who are in need of it.

Who is qualified to receive the Family Benefit Tax Credit Part A?

The following conditions must be met for you to qualify for Family Tax Benefit Part A:

• have a child who is eligible for the Family Tax Benefit in your care.
• meet residency requirements
• meet an income test

Child eligibility requirements for the Family Tax Benefit (FTB child).

An FTB child is required to be:

• between the ages of 0 and 15, or
• be between the ages of 16 and 19 and fulfill other prerequisites to enroll.

The child has to be in your care for at least 35 percent of the time, and you can't get any other benefits for them, like the youth allowance or the apprentice allowance.

Residency requirements

You are required to be a resident of Australia and satisfy one of the following requirements:

• a citizen of Australia is required.
• hold a visa that is valid for life.
• hold a visa that falls under a Special Category
• possess a short-term visa, such as a Partner Provisional or Temporary Protection visa, among others.

Either the child needs to live with you or they need to meet these residency requirements.

If you are living outside of Australia, the payments you receive could be affected. There are some exceptions to the one-year waiting period that is normally required for new immigrants to Australia before they are eligible for the Family Tax Benefit Part A.

The test of income

At the conclusion of each fiscal year, you are obligated to submit a tax return. This must be finished within the subsequent year and a half, which begins immediately after the end of the fiscal year. In the event that you are exempt from filing a tax return, you are required to inform Services Australia of this fact.

The amount you owe may change depending on the amount of child support you receive.

Other requirements

In addition to fulfilling the requirements for early childhood immunization, the child must have a health check if they are turning 4 in order to be eligible for the payment.

Visit the website for Services Australia to learn more about the requirements for qualification.

What is the amount that a family will receive from the Family Tax Benefit Part A?

There is a cap of $197 that can be paid out under Family Tax Benefit Part A. 96 dollars every two weeks for children up to the age of 12 and $257 dollars per adult 46 dollars every two weeks for children up to the age of 19 if they are eligible for the program.

The sum that you get is contingent on the following factors:

• the money you make.
• the ages of the children who are under your supervision.
• The total number of children that you are responsible for.

Your bank, credit union, or building society will accept the payments in either a fortnightly installment plan or a one-time sum at the conclusion of the fiscal year. Payments can be made to a parent, guardian, or an organization that has been approved to provide care.

After Centrelink has finished balancing your family assistance payments at the end of the financial year, you may be eligible for an additional payment under Family Tax Benefit Part A. You could receive a supplemental payment of up to 8 if you are qualified for the program. 40 for each child who is eligible during the fiscal year 2021 – 2022, in addition to 7 60 for the fiscal year that will begin in 2022 and end in 2023

How much you get depends on:

• how many children are under your care at any given time?
• if you split the responsibility for care with another person
• how much money your family makes.
• the amount of time during which you were qualified to receive Family Tax Benefit Part A

In addition, the following are eligible for the Family Tax Benefit Part A:

Visit the Payment and Service Finder on Centrelink's website to learn more about the benefits that are available to you.

What exactly is the Family Benefit Tax Part B?

Part B of the Family Tax Benefit is a supplement that can be claimed by families with children who are cared for by someone other than a parent, by single parents, or by families with only one primary source of income. It acknowledges the possibility that you are unable to work as a result of the conditions in your life or the age of the child.

Who is qualified to receive the Family Benefit Tax Credit Part B?

In order to qualify for the Family Tax Benefit Part B:

• In order to qualify for the Family Tax Benefit, you need to be the primary caregiver of a child who is younger than 13 years old.
• If you are a single parent, grandparent, or caretaker who is not a parent, the child you are caring for must be under the age of 18 and must fulfill the educational requirements if they are between the ages of 16 and 18.
• At least 35 percent of the time, the child must be in the care of the family.
• The family needs to satisfy the requirements for Australian residency.
• A threshold level of income is required of the family.

You are not eligible for FTB Part B if you are receiving Parental Leave Pay at the same time.

Visit the website for Services Australia to learn more about the requirements for qualification.

What is the monthly payment for the Family Tax Benefit Part B?

The maximum payment that can be received through Family Tax Benefit Part B is $168. 28 per fortnight for children under 5, and $117 46 dollars every two weeks for children between the ages of 5 and 18, if they are eligible. Your bank, credit union, or building society account will receive payments either every two weeks or in one large sum at the end of the fiscal year, whichever option you choose.

A supplement of up to $383 is available to qualifying families through Family Tax Benefit Part B. 25 on an annual basis for each family during the fiscal year 2021–2022, and $397 85 dollars for each household for the 2022–2023 fiscal year After you and your partner have filed your income tax returns at the end of the fiscal year, or after you have informed Services Australia that you are not required to file a tax return, the supplement will be paid out to you and your partner.

You could also be qualified for the following:

• Energy Supplement1
• Supplement for Families with a Single Income

Visit the Payment and Service Finder on Centrelink's website to learn more about the benefits that are available to you.

How do I fill out the application for the Family Tax Benefit?

Online filing of the claim is the most convenient method. In order to make a claim online, you are required to have a myGov account that is linked to Centrelink. You will be required to create a myGov account as well as an online account for Centrelink if you do not already have either of these accounts.

If you are unable to make a claim online, you have the following options:

In the form of resources and support

Visit the Services Australia website to learn more about whether or not you are eligible for the Family Tax Benefit.

Visit the Payment and Service Finder on Centrelink's website to learn more about the benefits that are available to you.

Visit Services Australia if you want more information on how to apply for the Family Tax Benefit.