Are you raising children and in need of financial assistance? The Family Tax benefit is a two-part payment that will provide you with the help you require.
To help you understand how to claim the Family Tax Benefit, our team of professionals at Valles Accountants have outlined everything you need to know.
Read on to learn more about the Family Tax Benefit and how to make a claim.
The Family Tax Benefit is separated into two parts.
Part A – A payment that is made per child, depending on the family’s situation
Part B – An amount provided per family to provide extra help for those who need it
Both parts are designed to make it financially easier for you to raise children.
Before lodging for the Family Tax Benefit, you’ll need to understand whether you’re eligible for the claim.
To be eligible, you must:
The first step to claiming the Family Tax Benefit is to set up your online accounts.
You’ll need a MyGov account linked to Centrelink to begin your application process. To start your application, you will have to prove your identity with MyGov.
If you’re unsure of how to create a MyGov account, you can visit the Services Australia website for more information.
To successfully apply for the Family Tax Benefit, you will need to accumulate various documents that support your claim.
Information regarding your child will also be needed, including their name and date of birth. Additionally, the Government may ask for additional documents about shared care arrangements and child support.
This stage of the claim is divided into two parts: proving your child’s birth or adoption and proving your identity.
Proving the birth of your child is simple. All you will need is the proof of birth declaration given to you in your Parent Pack after your child’s birth.
If you do not have access to your Newborn Child Declaration document, you can supply the following:
Additionally, you will also need to prove your identity. This can be completed online, over the phone, or in person.
Once you have submitted all relevant documents to support your Family Tax Benefit claim, you will be notified whether it has been approved.
The process will usually take Centrelink 28 days to complete.
Are you planning to claim the Family Tax Benefit? The team at Valles Accountants are tax accountants and can help you apply for the financial assistance you require. With our years of experience in accounting, we advise, assist, and deliver in all areas of compliance.
We understand the ins and outs of forming a Family Tax Benefit claim and can help you source the relevant documents to complete your application.