If you’re a parent or caregiver in Australia, you might be familiar with Centrelink’s Family Tax Benefits (FTB), a program that helps families with the cost of raising children. In 2024, Centrelink offers two main types of FTB benefits: Part A and Part B. Each provides financial support depending on your family structure, income, and the number of children in your care.
What is the Family Tax Benefit?
The Family Tax Benefit is a payment for Australian families to help ease the financial load of raising kids. It is divided into two parts:
- FTB Part A – Paid per child based on income.
- FTB Part B – Paid per family to single-income households or single parents.
Both benefits support families with varying needs, from newborns to teenagers under 19 who are still in full-time education.
FTB Payment Amounts for 2024
The payment amounts vary based on income, child age, and family situation.
| Family Tax Benefit Type | Maximum Yearly Rate (per child) |
|---|---|
| FTB Part A (0-12 years) | $5,677.20 |
| FTB Part A (13-19 years) | $7,158.60 |
| FTB Part B (under 5 years) | $4,409.20 per family |
| FTB Part B (5-18 years) | $3,186.20 per family |
Note: Families with more than one child, or multiple births, may be eligible for additional supplements and allowances. The rates and eligibility factors can change, so it’s good to check regularly for updates.
Eligibility Criteria for Family Tax Benefit
Eligibility requirements differ for FTB Part A and Part B:
- FTB Part A: To qualify, families must meet an income test. Children must be up to 15 years of age or 16-19 years if they meet specific study requirements.
- FTB Part B: Available to single parents or families with a single income. This benefit typically applies to households with children under 13 or up to 18 for single parents.
Additionally, meeting residency requirements and staying up-to-date with immunizations is essential for FTB eligibility. Some new residents may face a waiting period before receiving benefits.
Income Testing and Adjustments
Both FTB parts involve income testing to determine the payment amount:
- Adjusted Taxable Income (ATI) is assessed. Families earning below the thresholds receive maximum payments, while those above face reductions.
- If the family’s ATI exceeds $80,000, eligibility for FTB Part A Supplement may reduce.
- Single-parent families generally qualify for FTB Part B, while two-parent families with only one income may also be eligible, depending on the primary earner’s income.
Payments are balanced annually, and any top-up due is added after the end of the financial year if requirements are met.
Benefits Beyond Financial Support
FTB provides more than just cash assistance. Additional supports include:
- Rent Assistance: Available if receiving more than the base rate of FTB Part A.
- Newborn Supplement: For families welcoming a new child.
- Health Care Card: Offered to families receiving the maximum rate of FTB Part A, covering medical expenses.
These add-ons help families cover various needs as children grow, from educational to healthcare costs.
How to Apply for Family Tax Benefit
Applying for FTB is simple. Here’s how:
- Online: Use the Centrelink Express Plus mobile app or log into myGov to submit an application.
- Documents: Prepare documents verifying family income, residency, and child immunization records.
- Review and Approval: Once approved, payments are typically made fortnightly to the nominated bank account.
Checking eligibility each year ensures you receive the correct amount and meet all requirements, especially around income thresholds.
FAQs
- What if my child is 16-19 and studying?
Yes, they may still qualify for FTB Part A if they meet the study requirements. - Can two-parent families get FTB Part B?
Yes, but only if the primary income earner earns below a certain threshold. - Do FTB payments change each year?
Yes, payments are reviewed annually based on income, family size, and government adjustments.
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