In Australia it’s really difficult to raise children as there are various costs associated with child raising. The education expenses, transportation, medical costs, clothing and food costs associated with the children and these are really massive costs and one single individual can’t survive with this much of Expenses. As the inflation is high and due to this the prices go really high. In this high expenditure society how the citizen one job earnings can balance all the things. In response the centrelink offers the Australia Family Tax Benefit Part A & B In 2024. These two part payments will help the citizens to cover the raising children expenditures. In this guide we will check who can get this family tax benefit payment and we will see the amounts for these two part payments.
Australia Family Tax Benefit Part A & B In 2024
This Australia Family Tax Benefit Part A & Part B In 2024 are the centrelink payments which will provide the financial relief to the children cost bearer. Yes, those parents who have custody of the child or those parents who bear the cost of the child will get this family tax benefit. This benefit will provide the fortnightly payments to parents for the child raising. All the expenditures related to the child raising can be offset with this payment. This payment benefit can also be received in annual lump sum form. This payment is a two part payment. This means that there are two parts of this payment such as Part A and Part B. These both part payments have distinct qualifications and distinct amounts. This Part A payment will be given to all the qualified recipients but this Part B payment will be only offered to the citizens based on the family circumstances. It’s easy for the citizen to qualify for the Part A payments. The costs associated with child raising such as education expenses, transportation, medical costs, clothing and food can be paid off with the payments of Family Tax Benefit part A and B. Check this guide to get detailed knowledge of this benefit including its qualification requirements and amounts.
Australia Family Tax Benefit Part A & B In 2024- Overview
| Title | Australia Family Tax Benefit Part A & B In 2024 |
| Year | 2024 |
| Name of the Country | Australia |
| Name of the Issuing Authority | Service Australia or Centrelink |
| Name of the Payment | Family Tax Benefit Part A & B |
| FTB Part A & B Qualification 2024 | Qualified Australians |
| Objective | Financial Relief |
| FTB Part A & B Amount 2024 | Check this guide |
| Frequency of the Benefit | Fortnightly or Annual Lump Sum Payment |
| Category of the Post | Finance |
| Mode of the Benefit | Direct Bank Deposit or Physical Cheques |
| Official Web Portal | www.serviesaustralia.gov.au |
FTB Part A & B Qualification 2024
| FTB Part A Qualification 2024 | FTB Part B Qualification 2024 |
| This benefit will be paid if the child is 15 Years.This benefit will be paid if the child’s age is over 16 Years and till 19 Years and these children should be in full time secondary education.The maximum earnings of the applicant must be $65189.If these earnings limits exceed till $115,997 then the amount will be deducted by 20 cents for every dollar.If this earnings limits exceed over $115,997 then the amount will be deducted by 30 cents for every dollar. The claimant must be the Australian citizen or hold citizenship in Australia. The claimant must care for their child for 35% of their time or more. | This Part B will be offered to the single Parents, Grandparent and parent with the main income source.This benefit is paid to the child with age under 13 Years if the parent is the main income source in the family. This benefit will be received by the child aged under 18 if the claimant is a single parent or grandparent is the carer of the children. The maximum earnings of the applicant must be $117,194.The child should be in full time secondary education. |
FTB Part A & B Amount 2024
FTB Part A Amount 2024
| Situation of the Family | Maximum Rate per Fortnight | Maximum Rate Per Year |
| Child with Age 0 till 12 Years | $222.04 | $6705.05 |
| Child with age 13 Years till 19 Years | $288.82 | $8446.10 |
| Child with age 0 till 19 Years who lives in Approved Care Organisations | $71.26 | $1857.85 |
| Situation of the Family | Base Rate per Fortnight | Base Rate Per Year |
| Child with Age 0 till 19 Years | $71.26 | $2774.00 |
FTB Part B Amount 2024
| Situation of the Family | Rate Per Fortnight | Rate Per Year |
| Child with Age under 5 Years | $188.86 | $5372.80 |
| Child with age 5 Years till 18 Years | $131.74 | $3883.60 |
FAQ Related To Australia Family Tax Benefit Part A & B In 2024
This family tax benefit in Australia is not taxable. This means that the entire payment will be received by the citizens without any tax reduction.
The qualifications requirements are determined in the guide above.