As the end of financial year fast approaches, it’s understandable that there is some confusion.
Alongside the normal tax return process comes a number of new deadlines and procedures to be aware of around Covid-19 supplements, Child Care subsidies and more.
For this reason, I was delighted to chat with Hank Jongen, who is General Manager at Services Australia which administers Centrelink, Medicare and Child Support payments and services for the Australian Government.
We delve into the facts around the most asked questions on single mums lips as Hank provides the guidance and clarity necessary to meet our EOFY obligations on-time and in-order.
The facts and deadlines to be aware of as EOFY19/20 approaches
Listen to Hank Jongen explain:
- When and how to confirm your 2018-19 income – you should have received a text (it is 30 June)
- How to find out if you need to lodge a tax return
- The deadline and details to make a lump sum Family Tax Benefit claim for the 2018-19 financial year
- Whether you are eligible for the above-mentioned lump sum, or not
- Eligibility for the $750 Economic Support Payment if you are granted a lump sum Family Tax Benefit claim for 2019-20
- What to include in your adjusted taxable income when you report to Centrelink and the recording of Child Support payments
- Timings for Centrelink to balance payments once you have completed your Notice of Assessment
- What happens if you under (or over) estimate your income
- The two options available to pay tax on your $550 Coronavirus Supplement
- The commencement of mutual obligation requirements (started on 9 June) if you are receiving the Job Seeker allowance
- Where to go for further information – see handy links further down this page