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Carbon tax compensation query


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#1 Blish

Posted 14 April 2012 - 09:19 AM

I read that the govt is paying their carbon tax compensation payments to eligible family tax benefit recipients in May and June.

We zero rate our Family Tax Benefit, so we choose to get it in a lump sum at EOFY instead of fortnightly. Usually though, when there's govt. money being handed out (such as the pre GFC payments given to families), we still receive them as we are still on the list of recipients.

With these carbon tax payments though, I'm pretty sure when DH and I lodge our tax for 2011/12 we are going to earn over the threshold and not be eligible for FTB this year...so do we then pay the carbon tax money back?

Anyone know how this works?

Why don't they just wait til next financial year starts to pay the money seeing as the carbon tax doesn't come in until then.

PS. Please refrain from any "well you earn so much and you want to keep money you're not entitled to" comments. I'm not saying that. I'm merely asking how the process works for those they pay and then later it turns out that you weren't eligible for this payment. Thanks.

Edited by Blish, 14 April 2012 - 09:29 AM.


#2 Guest_holy_j_*

Posted 14 April 2012 - 09:31 AM

You get it when you lodge your tax return, if you are eligible. They pay it in advance to "soften" the blow. Doesn't do you much good though.  biggrin.gif

#3 Blish

Posted 14 April 2012 - 10:24 AM

Thanks for replying. Im confused though. You said you get it when you lodge your tax return and in the same sentence you said they're paying it in advance...

Yeah, I think you're right - the paying in advance thing is to soften the blow to the community.

I'll have to phone centrelink I guess to sus it out. Don't want to get anything until after I've lodged my tax. If I'm eligible then that's fine but if I'm not, could do without the whole hassle.
I hate dealing with them. Maybe people like me, who choose to get their FTB in a lump sum, will get the carbon tax payments later on too.

Edited by Blish, 14 April 2012 - 10:34 AM.


#4 Roy G Biv

Posted 14 April 2012 - 10:39 AM

Any payments that are related to the Family Tax Benefit, where you claim as a lump sum, wont be paid until you make your claim. (so next FY)

I think some of the GFC payments were not related to FTB so that would be why you received them. The ones that were tied in were paid with your lump sum.

Edited by Roy G Biv, 14 April 2012 - 10:40 AM.


#5 Blish

Posted 14 April 2012 - 10:44 AM

QUOTE
I think some of the GFC payments were not related to FTB so that would be why you received them


The GFC payments (not the $900 per tax payer one) I'm referring to were the ones where each FTB Part A eligible recipient got $600 or so per child. Can't remember the exact figure...but I got money at the time.

So, hence the question re these carbon tax payments. I read in yesterday's news that people eligible for Family Tax Benefit Part A would receive $110 per child and this would be paid in May or June.

#6 ****lisa****

Posted 14 April 2012 - 10:50 AM


http://www.heraldsun.com.au/news/carbon-ta...o-1226326245475





lump sum cash payments would flow to families from May 16

#7 ****lisa****

Posted 14 April 2012 - 10:55 AM

This is more to the point of your question OP

http://www.heraldsun.com.au/news/more-news...2-1226326250756

#8 Blish

Posted 14 April 2012 - 11:07 AM

Ahhhh thanks Lisa, that's perfect. Answered my query and is the answer I wanted to hear.

Thanks everyone...I knew EB would once again be the source of all knowledge original.gif




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