Jump to content
Impact of ETP on FTB?
6 replies to this topic
Posted 22 February 2012 - 07:16 PM
I'm usually up to speed on these things, but this time I'm not. DH received a lump sum Eligible Termination Payment (ETP) this financial year due to resignation and I have recently quit my job. Our taxable income this financial year, without the ETP included, sees us eligible for FTB (which would really be helpful at the moment!!), but I don't know how it is treated for FTB/Centrelink purposes. Can anyone shed any light on this, please?
Posted 22 February 2012 - 09:29 PM
Ftb is based on taxable income. ETR is usually non taxed and won't have an impact.
I had the same thing in 2009.
Posted 22 February 2012 - 10:14 PM
I think any rec leave balances that you/your husband were paid out for do count as taxable income and income for FTB purposes?
Posted 22 February 2012 - 10:21 PM
If any of it is included in your taxable income it will affect your FTB.
Posted 23 February 2012 - 02:46 PM
Thanks. Guess I'll have to find any paperwork DH got to know for sure.
Posted 23 February 2012 - 05:59 PM
I received a large payout in August and rang Family Assistance with this exact question. As far as they were concerned ALL income affected them and I am not expecting any FTB this year because of it. They told me that both the redundancy portion (not taxed) and the annual leave and long service leave portion would BOTH count as income for their purposes.
I am expecting a horror year at tax time this year
Posted 24 February 2012 - 12:46 PM
Any income, taxable or not affects FTB. I receive a non-taxable payment and still need to declare it. My FTB is adjusted accordingly.
1 user(s) are reading this topic
0 members, 1 guests, 0 anonymous users
The numbers have been crunched and it's official: Australian parents are having a bit of an 'O' moment.
Just like a horror movie ... THEY'RE BAAAAAACK. So what works in treating and avoiding head lice and nits?
It's obvious these people dote on their pets, but they're barking up the wrong tree.
The Duchess of Cambridge is in the early stages of labor at St Mary's Hospital.
My baby wasn't interested in food - until we tried something new. Now she's eating it all, and it often comes from my plate.
Watching your child take their first wobbly steps is one of the best parenting highs you'll ever experience. But with that high comes a new reality.
A watched womb never labours ... or at least mine didn't.
Rachelle Friedman Chapman was preparing to marry the man of her dreams when tragedy struck four years ago.
No matter what the occasion the world always seems to be waiting for Prince William and Kate Middleton.
Discovering your wife has just given birth on the toilet would be a surprise for anyone. But the shock would be even greater if neither you or your partner knew you were expecting a baby.
These five photos show some ghostly images - but are they real? Do you believe in the spirit world?
Does spending more time with your kids help their development? This is a more complex topic than it may seem.
A mother who opted for a 4D scan late in pregnancy discovered her unborn baby had a rare brain disorder.
"I think we were just tired of people talking, trying to tell our stories, and they had no idea, no clue, what we went through."
They say laughter is the best medicine. If that's true Tom Fletcher and his son should live long, healthy lives.
Do I feel 'smug'? No. Nor do I feel remotely superior. Each birth was valid and valuable in its own right, producing, as it did, a healthy baby.
The workplace isn't always a friendly place for pregnant women. Yet working women inclined to conceal a pregnancy from prying coworkers may be better off opening up and carrying on, according to a new study.
To celebrate Mother's Day this year we are giving you the chance to win one of five great prizes simply by telling us your story.
The popular TV host has no plans for a sibling for her new daughter Maggie.
There is so much pressure about having a baby who sleeps 'all night' , it's no wonder you worry about your baby if she wakes in the night.
Top 5 Articles
A new area on our site for all your playtime and learning fun with baby - specially brought to you by Fisher-Price Play IQ?. PLUS your chance to win a year's supply of toys.
What makes some names have comebacks while others silently fade into oblivion? A few factors come into play.
Even though they're immobile and can't speak, there are plenty of ways you can engage and communicate with your newborn to stimulate their physical, cognitive and emotional development.
Elizabeth Edmonds' husband posted some devastating news on Facebook last year.
If you're a new mum and feeling ignored by the older mum/the old hand/the has-been, please know, it's not you, it's me. Blame the last child parenting fatigue.
The 'How I Met Your Mother' star has revealed that she was diagnosed with ovarian cancer at 25 - and was told she'd never conceive naturally.
What does your baby need to grow up healthy? The experts give their advice.
A UK coroner has warned of the dangers of a bedside cot after the death of a newborn baby who choked to death this month.
Babies are social beings who enjoy being around people they know and love, especially you.
Everyone agrees we need to do more to care for people at risk from suicide, the problem is what.
Having a new baby isn't tiring - it can be downright exhausting.
I was on a high. I'd done it all by myself with no help from anyone.
We're big fans of kids' birthday parties - but this is one bash we're glad we didn't get an invite to.
Everybody loves a bargain - including the Duchess of Cambridge.
A lengthy note put on the window of a fish & chip shop has gone viral due to the writer's serious doubts about the romance of travel.
Pregnant women are under pressure to do all the "right things" to have a healthy child. It results in women feeling judged about their decisions.
The mother of missing toddler William Tyrrell says she has a vision that somebody "picked him up and moved him on ... that's the only way ... to explain for him not to be there".
Most 23-year-old blokes spend their hard earned cash on fun times with mates or romantic dinners with their girlfriend, but not Tommy Connolly.
The first all-female quintuplets born in the United States were delivered last week, at 28 weeks and two days.
Announcing that you're expecting can be a time to express your creativity, sense of humour and imagination. Check out how other parents and parents-to-be have broken the news to friends and family.
Are you one of those that know the whole IKEA catalogue by heart? Love their stuff but want to personalise it? Here's some inspiration to help you realise the potential of IKEA furniture and fittings.
Top baby names
The numbers are in and we can now bring you the 2014 top baby name list for Australia.