[flowerbell]

I have just been online and trying to figure out the Paid Parental Leave estimator. I have been having a bit of a play with different dates for when PPL to start and taxable income estimates.

What I have found is that if I was to have PPL payments start in this financial year it looks like I would be much better off than delaying payments to start in the new financial year. Which I don't understand as my taxable income will be so much higher this financial year since I have only just finished working and obviously next financial year will be nearly non-existent as I won't be returning to work until probably the following financial year. It seems that the higher my taxable income next financial year the more $ I would receive by going with PPL over the BB. Wouldn't you think if your taxable income was lower it should be of more benefit??

I know though that even if I requested PPL to start soon (e.g. in next couple of weeks) it is likely that the application will take so long to be processed that it is more likely that it won't commence until next financial year anyway so I might possibly be better off receiving the BB.

Sorry I don't completely understand this as was sure would be better to get PPL as even though it is taxed gross amount would be around $10000 vs around $5000 tax-free for BB.

Sorry not sure if this makes any sense but if it does if anyone who may have also experienced this can shed any light on how it all works I would really appreciate it. Have been on hold with the Family Assistance Line for half an hour to see if they can clarify further but who knows if I will ever get through!!!

[Loulla]

I have been on hold too for 30min! Listening to the music now zzzz and Im just as confused as you!

[PrincessPeach]

Basically if you are working full time & you are planning on taking the 18 weeks of Paid parental leave, you are better off than accepting the baby bonus.

Even if you earn only $25,000 per year, by accepting the paid parental leave over the baby bonus, you end up $3,062 better off.

[rob^2]

If you are not planning on working much if at all NEXT financial year, you are better off to defer the PPL to commence next financial year. If the entire amount (apx 11,000?) is received ed in the 2012/2013 financial year, you will pay NO tax on it (assuming that all other earnings in that financial year are less than about $3000). This is because there is a Low Income Tax Offset where you can earn approx $14K without paying any tax. (They will tax the payments, as the $580 apx weekly payment extrapolates to an annual salary of approx $30K, and then you will get it all back when you do your tax return).
But if you start receiving it this financial year, you need to count it as taxable income, and pay tax at the relevant rate (depending upon your total taxable income).

I hope this makes sense to you.

I was in exactly the same situation 12 months ago. Had worked for 10 months of the financial year, earning $20K. My baby was born in May, but I deferred my PPL to 01 July, and received the 18 weeks pay (which was taxed). I just returned to work part time last week and will earn $4k before June 30. Adding my salary and my PPL I will have $14K taxable income this year (I will make some deductions to make sure), so that I receive the low income tax offset and get all my tax back.

[jess1980]

What happens if you are expecting twins do I get double the baby bonus my hubby and I earn under 100k/yr?

[heatherbell89]

With twins you can choose two baby bonuses or one bonus and one paid parental leave

[MummyIHK]

The last time I looked the cut off was $75K a family where as PPL was $150K a person. But if you were under the $75K then yes you would get 2 lots of baby bonus. If you are eligable for BB and PPL you can take one of each or both BB but from what I could tell you do not get 2 PPL
[/quote]

I was in this situation, of being eligible for one BB and one lot of PPL, the cut off for baby bonus is 75k for the 6 months proceeding the birth (so pretty much 150k a year).
I hope this helps.