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  • #969723
    • Total posts: 11,464

    Hello Every one,

    I have a question for you Book-keepers and/ or Accountants;

    Do you have a pre-built spreadsheet that takes into account,

    a) Family tax benefits part A?
    b) Family tax benefits part B?
    c) Amount of children / dependants?
    d) Age of children / dependants?
    e) sliding scale of earnings to pension payments?
    f) single and/or combined pension payments?

    suggested helpful links to work it out:

    Family tax Part A: http://www.centrelink.gov.au/internet/internet.nsf/payment/ftb_a_rates.htm
    Family Tax Part B: http://www.centrelink.gov.au/internet/internet.nsf/payments/ftb_b_rates.htm
    carers allowance (not to be confused with carers pension):http://www.centrelink.gov.au/internet/internet.nsf/payments/ca_adult_rates.htm
    Carers and Disability Pension rates:http://www.centrelink.gov.au/internet/internet.nsf/filestores/co031_1007/$file/co031_1007en.pdf

    example :
    pensioners (combined) allowed to earn $256.00 per fortnight before having their payments reduced.
    At $257.00+ income(pension amount but excluding family tax benefit) reduces @ $0.50 per $1 earned.
    Family tax Part A: reduces @ $0.20 per $1 earned after $x amount of dollars and is dependant on a) kids ages b) amount earned.
    Family Tax Part B: ?? unsure whether this is reduced or not.

    Alan Maddick
    • Total posts: 410

    Have fun with that! Centrelink is great, Accountants are not supposed to advise on social security matters anymore and as a financial planner i would have to put my advice in an SOA! It is quite annoying even trying to get any info out of Centrelink and i would need more information from you to give you the right advice

    FTB A is based on the lower income earner, if the high income earner in couple earns under $150k (150k is the new labour implemented income cap that applies to pretty much ever government benfit) and the low income earner earns under $24291 or $18907 (child over 5) you will get some FTB B if you earn under $4750 you will get full FTB B

    Easiest way to work it out is call Centrelink or FAO and explain you exact circumstances and they will do the calcs for you. Yes we use software to do the calculations and no i cannot lend you a copy..

    • Total posts: 430

    I know someone with a spreadsheet for that exact situation.

    But I can’t see him giving it to you. It took him hours to put together.

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