Are you raising children and in need of financial assistance? The Family Tax benefit is a two-part payment that will provide you with the help you require.
To help you understand how to claim the Family Tax Benefit, our team of professionals at One Accountancy have outlined everything you need to know.
Read on to learn more about the Family Tax Benefit and how to make a claim.
What Is the Family Tax Benefit?
The Family Tax Benefit is separated into two parts.
Part A – A payment that is made per child, depending on the family’s situation
Part B – An amount provided per family to provide extra help for those who need it
Both parts are designed to make it financially easier for you to raise children.
Understanding Eligibility
Before lodging for the Family Tax Benefit, you’ll need to understand whether you’re eligible for the claim.
To be eligible, you must:
- Have a dependent child or a full-time secondary student aged 16-19 who is not receiving a benefit, such as Youth Allowance
- You care for the child at least 35% of the time
- You meet an income test
Online Accounts
The first step to claiming the Family Tax Benefit is to set up your online accounts.
You’ll need a MyGov account linked to Centrelink to begin your application process. To start your application, you will have to prove your identity with MyGov.
If you’re unsure of how to create a MyGov account, you can visit the Services Australia website for more information.
Supporting Documents
To successfully apply for the Family Tax Benefit, you will need to accumulate various documents that support your claim.
This includes:
- Your family’s financial income details
- Details on your partner’s residence
- You and your partner’s tax file numbers (TFN)
- Details of a bank account in your name
Information regarding your child will also be needed, including their name and date of birth. Additionally, the Government may ask for additional documents about shared care arrangements and child support.
Proving Identity
This stage of the claim is divided into two parts: proving your child’s birth or adoption and proving your identity.
Proving the birth of your child is simple. All you will need is the proof of birth declaration given to you in your Parent Pack after your child’s birth.
If you do not have access to your Newborn Child Declaration document, you can supply the following:
- Your child’s birth certificate
- A letter from a doctor or midwife who attended the birth of your child
Additionally, you will also need to prove your identity. This can be completed online, over the phone, or in person.
Awaiting Approval
Once you have submitted all relevant documents to support your Family Tax Benefit claim, you will be notified whether it has been approved.
The process will usually take Centrelink 28 days to complete.
Disclaimer: Any advice on this site is general nature only and has not been tailored to your personal objectives, financial situation and needs. Please seek personal advice prior to acting on this information. Because of that, before acting on the advice, you should consider its appropriateness to you, having regard to your objectives, financial situation or needs. Content in partnership with Taxpayers Australia.
