Published on 12 Mar 04
by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE
The Family Tax Benefit system has been in existence since 1 July 2000 but continues to cause difficulties for many taxpayers and advisers. Often taxpayers are requested to repay benefits overpaid to them whilst sometimes claims that should be made in tax returns are often overlooked.
This convention paper examines the following issues:
- the different forms of family assistance
- the major reasons for errors being made
- when to claim via the tax return
- how the baby bonus works
- how the parenting payment differs from family tax benefit.
Financial Industry Liaison & State FIS Coordinator, Centrelink. Mark has 27 years experience in Social Security policy issues,
13 years in financial information and provides the industry with technical information, updates and strategies.
Current at 12 March 2004