Time is rapidly running out for those taxpayers who wish to claim family assistance payments for the 2014 financial year. These claims must be lodged with the Department of Human Resources (Centrelink) by the 30 June 2015.
The 30 June 2015 deadline relates to claims for Family Tax Benefit, Child Care Benefit and Single Family Supplement.
A prerequisite for making this claim is that your 2014 Individual tax return has been lodged by 30 June 2015.
If you or your partner don’t need to lodge a tax return, you need to tell Centrelink and confirm your income for the year. The quickest and easiest way to do this is using your Centrelink online account through myGov, the Express Plus Centrelink mobile app or your One Time Access Code.
In some situations, Centrelink won’t be able to accept your advice that you or your partner don’t need to lodge a tax return. This will happen for example, where you or your partner:
- had a taxable income above the tax free threshold
- were entitled to receive, or had to pay child support
- had an interest in a business or were self-employed
- had tax withheld from your payment or income, or
- had reportable fringe benefits or reportable superannuation contributions
Note the lodging of the individual tax return is a separate issue from making a claim for family assistance therefore individuals can lodge their claim for family assistance prior to lodging or finalizing their individual tax return.
It is important to remember that while it is possible to get an extension past 30 June for tax lodgement these extensions are not taken into account by Centrelink in terms of the 30 June deadline. In other words for Centrelink purposes there is no extension beyond 30 June 2015 if you wish to claim Family Assistance for the 2014 financial year.
Should you need any assistance in completing your 2014 tax return, call Balanix Solutions on 33244788.
The Family Assistance form can be either downloaded from the Centrelink website or completed online.
Balanix Solutions – Taxation | Accounting | Business Advise.
Situated in Strathpine on Brisbane North, we partner with our clients to assist them in their accounting, business management and bookkeeping needs. Our clients vary in industries from professional services (such as law, vet and dentist) to the trades (mechanic, bricklaying, plasterer etc), hospitality and retail. Are clients are located in the Pine Rivers area (including Brendale, Lawnton, Albany Creek and Eatons Hill) through to Kallangur, Petrie, North Lakes and Caboolture, as well as Brisbane South, the Gold Coast and various other parts of Queensland.
Call us today … we can help (07 3264 4783)