Family Tax Benefit – Fair, Flexible Recognition Of Parents
The Federal Government’s Family Tax Benefit (FTB) provides fair and flexible recognition of the costs of raising children for parents, Minister for Community Services Larry Anthony said today.
“By recognising anyone caring for their child for more than 10 per cent of the year and flexibly providing this recognition as either a fortnightly payment or lump sum, this Government is helping parents with the cost of caring for our greatest asset – our children,” said Mr Anthony.
“Parenting costs such as providing a bedroom, furnishings, food, clothes, health care and entertainment have not traditionally been recognised by Government – our Family Tax Benefit has changed all that.
“And parents with more than 90 per cent care get 100 per cent of the benefit.
“This Government’s Family Tax Benefit has provided real advantages for sole parents especially – who are recognised in a number of independent studies as one of the biggest winners from Tax Reform.”
Mr Anthony said separated parents sharing care of children should take into account any changes in the amount of care they provide and inform the Family Assistance Office if they claim FTB fortnightly.
“One of the great advantages of FTB is that it is flexible – families can claim it as a lump sum when they complete their tax return, or claim it fortnightly to boost their income,” said Mr Anthony.
“However, as with all Commonwealth payments, parents must keep the Family Assistance Office informed of any changes that may affect their payment.”