Tax Tips

Family Tax Benefit

 

Family Tax Benefit (FTB) is a payment you can receive to help with the cost of raising your dependent children.

 

Family Tax Benefit has two parts:

  • FTB part A
  • FTB part B

 

 

To be eligible to claim FTB you must satisfy the following three criteria:

  • you must have provided care to a dependent child
  • you must have cared for the child for a minimum of 10% of the assessment period
  • you must have satisfied the Australian Residency requirements for family assistance purposes (this differs from residency requirements for taxation purposes)

 

 

FTB part A is designed to help with the cost of raising children. It is income tested. The amount of FTB Part A you receive depends on your family adjusted income.

 

FTB part B is designed to give extra help to families with one main income, including single parent families. It is a payment made to a family and is not paid per child. For single parents it is not income tested.

 

There are two ways in which FTB can be claimed:

  • through the Tax Office as part of your Tax Return
  • direct from the Family Assistance Office (FAO)

 

TAX logic will complete your Family Tax Benefit (FTB) Return on your behalf where you have not made a claim directly through the Family Assistance Office (FAO).