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Family Tax Benefits
Family Tax Benefit (FTB) has two parts, Part A and Part B. You may be eligible for Part A, Part B or both. FTB is not asset tested, but is income tested. FTB is tax free.
is paid for each dependent child you care for where the
dependent child is aged under 21, and for those dependent children
aged 21 to under 25 who are studying full-time.
B is designed to
give extra help to families with one main income.
Family Tax Benefit Part B is paid per family not per child.
Part B can be paid until the youngest child turns 16 or until
the end of the calendar year in which the youngest child turns 18 -
provided the child is studying full-time and is not receiving a
social security payment such as youth allowance or an education
allowance such as ABSTUDY.
If you are entitled to more than the basic rate of FTB, you may be entitled to a Health Care Card and/or rent assistance.
FTB Part A - Rates & Limits
receive the maximum rate of Family
Tax Benefit Part A your annual adjusted taxable family income can be
your income is more than the above limit a year, your payment will
reduce by 20 cents for each dollar above the income limit, until
your payment reaches the base rate of Family Tax Benefit Part A.
limit at which annual Family Tax Benefit Part A including the
supplement may no longer paid:
The income limit is higher than stated if the customer has three
children aged 13 - 15.
FTB Part B - Rates & Limits
to 30 June 2008, if you were a single parent you could get the
maximum amount of Family Tax Benefit Part B regardless of your
income, although shared care could affect your payment.
1 July 2008, FTB Part B is limited to single parents with an
adjusted taxable income of less than $150,000.
you are a two parent family, the income of the parent earning the
lesser amount must be equal to or less than the income limits below.
to 1 July 2008, the income of the parent earning the higher amount
was not taken into account.
1 July 2008, if the parent earning the higher amount earns more than
$150,000 adjusted taxable income for that financial year, then the
other parent will not be eligible for any Part B benefit.
rates of FTB Part B
amount of Family Tax Benefit Part B will reduce by 20 cents per
annum for each dollar earned above the income limit.