July 2, 2009
Changes Announced in the Federal Budget 2008-09 - Streamlining Administration of Family Tax Benefit (FTB)
Implementation
The measure will commence from 1 July 2009.
Deadlines for lodging FTB tax claims
From 1 July 2009, FTB claims cannot be made through the tax system, regardless of the year. This includes claims for 2007–08 and 2008–09.
Even if a taxpayer has an extension of time to lodge an income tax return beyond 30 June 2009, we (the Tax Office) can't accept the FTB claim after that date.
From 1 July 2009, taxpayers will need to lodge their claims through the Family Assistance Office (FAO). They can do this at Centrelink or Medicare offices or online at www.familyassist.gov.au
Changes to FTB payments and debt offsetting
From 1 July 2009, FTB payments will no longer be made through the tax system. This includes top-up payments for fortnightly customers who underestimated their income or are entitled to a supplement payment. However, if there is a tax debt, a top-up to the value of the debt can be credited through the notice of assessment. The balance if any will be paid by the FAO.
Currently only FAO reconciliation debts can be recovered from income tax refunds. From 1 July 2009, additional FAO debts (including qualification and non-lodger debts) will be recoverable from the refund.
About the Author
Warren Kruger is an Australian Tax Specialist and Advisor.
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Filed under Australian Tax Offsets and Rebates, Australian Tax Practice, Australian Tax Records, Australian Tax on Wages, Blog, Taxpayer Alerts by Warren Kruger
