Home / Lodgment Reminder: Don’t miss out on the Family Tax Benefit

Lodgment Reminder: Don’t miss out on the Family Tax Benefit

Crest Accountants

June 29, 2022

Reminder: Recipients of the Family Tax Benefit (FTB) are required to lodge their 2021 tax returns by 30 June 2022 in order to receive their correct FTB payment amount.

Continue reading to find out time limits for lump sum claims and confirming income for Family Tax Benefit.

What are the time limits for 2020-21 financial year?

You have until 30 June 2022 to:

confirm your family income for the 2020-21 financial year
claim FTB as a lump sum for the 2020-21 financial year.

Services Australia will use this information to balance your FTB.

You and your partner need to confirm your income if either of the following apply:

you got FTB during the 2020-21 financial year
you’re claiming FTB as a lump sum for the 2020-21 financial year.

If you didn’t get FTB in the 2020-21 financial year

If you didn’t get FTB during 2020-21, you have until 30 June 2022 to claim it as a lump sum payment.

For more information on how to confirm your family income and how to claim FTB as a lump sum click here.

What if I miss the deadline?

If you do not confirm your family income before 30 June, you may need to pay back the FTB you received in 2020-21. You may also miss out on top up and supplement payments if you are eligible.

If you are not required to lodge a tax return for the 2020–21 year and have not yet informed the ATO or Services Australia, you should:

notify the ATO that a return is not necessary before 30 June 2022, and
notify Services Australia directly.

Crest Accountants are here for you

Need help? The team at Crest Accountants are here to help and guide you along the way.

Contact Crest Accountants today.

Disclaimer: The information contained in this news post is general in nature and is intended to provide a general summary only and should not be relied on as a substitute for professional advice.

Article Written & Reviewed By:

For over 45 years, Crest Accountants have been empowering individuals, families and businesses to nurture financial success, security and peace of mind. Our strong foundation has been built on old-school principles, trust and transparency, which has enabled us to build and nurture long-lasting client relationships.

Share this great article

Lauren Gregory

04:10 20 Jun 19

Recently I came on board as a client, and cannot recommend Angela highly enough. To date, my experience with Angela and the team has been fantastic and I would not hesitate in providing a referral. I have been impressed with the prompt return of calls and emails, and have had all work completed within our agreed time frames. The valuable taxation and small business advice I have received has been incredibly useful and provided me with support and guidance on my personal and business journey. If you are looking for a Tax Accountant or Advisor, don't hesitate in making the move over to Crest.

Danny Ellem

05:07 09 Oct 19

I cannot commend Crest Advisors lending team enough. As first home owners, we found the place we wanted and knew we had to find someone to make our loan happen. Dion & Nat, not only had fantastic communication & correspondance, they worked with us on finding what we wanted and helped us secure our first home. The were patient & explained everything as we were completely new to it all. They gave us direction and guidance in what we needed and were very thorough with what they needed.We cannot thank Dion & Nat enough and highly reccomend them to anyone.

Feng Lin

00:56 03 Sep 19

Very good fellows! Hepled us to start our business in this country and looked after our accounting very well from the first day at low costs!Strongly recommending people to engage Crest Advisors for any business or individual services!

Kelly Penman

07:29 22 Sep 19

An excellent dealing with Natalie from start to finish, she was very patient with me while i was purchasing my vehicle, can highly recommend easy process and great to communicate with .

The Edit Suite

01:20 20 Aug 19

We have had the great experience of working with the friendly team at Crest Advisors and would highly recommend them. Fantastic team, terrific space and caring attitude.

Carla Schesser

05:43 02 Dec 19

I recently worked with Louise on a full website design & build project for Crest Accountants. Throughout the whole process, Louise was highly organised, detail-oriented and super communicative which made the project a massive success.It was apparent from the start of the project together that Louise was passionate about Crest Accountants, the vision and did everything needed to ensure the website was perfect.Thank you Louise for all your efforts and I look forward to working on the next project soon!

Phillip Crawley

12:11 08 Dec 19

Ryan, Nicole & Robert are all very skilled at what they do, highly recommend.

Jed Newnham

23:59 29 Nov 16

I highly recommend Crest Advisors. I have been working with Crest for 4 years and they assist me personally and my business in several areas including Cashflow forecasting, tax planning, business structuring, BAS, Finance, Insurance and SMSF. They provide excellent services and will help you achieve your personal and business goals. Jed Newnham, Managing Director of Newnham Scaffolding

Lodgment Reminder: Don’t miss out on the Family Tax Benefit

Crest Accountants

What are the time limits for 2020-21 financial year?

You have until 30 June 2022 to:

If you didn’t get FTB in the 2020-21 financial year

What if I miss the deadline?

Crest Accountants are here for you

Crest Accountants

Signup to our newsletter to receive recent news and updates.

Share This