Update your family income estimate for the 2020-21 financial year
30 April 2020
This will help make sure you get the right amount of Family Tax Benefit (FTB) and Child Care Subsidy (CCS).
It’s time to update your family income estimate for the new financial year. We’ll write to you soon to remind you.
Why we need your family income estimate
We use your estimate to work out how much FTB and CCS you’ll get during the financial year. When the year ends, we’ll compare it with your actual adjusted taxable income and balance your payments.
If you don’t give us a family income estimate, we’ll estimate it for you using information from the previous financial year. We might increase your estimate in line with changes to the Australian Average Weekly Earnings.
However, this may not be accurate. It’s better if you estimate your own family income to reduce the risk of getting a debt. Remember, you can change your income estimate at any time during the year.
Even though you won’t pay child care fees until the end of June, you still need to update this information.
How to update your family income estimate
The easiest way to update your family income estimate is online using either your:
You can use our online guides to help you:
- update your family income estimate and payment choice for FTB
- update your family income estimate for Child Care Subsidy.
Where you can get more information
Read more about:
Read more news for families.
If you get Child Care Subsidy (CCS) or Family Tax Benefit (FTB) here's what you need to know.
To ensure your family payments are as accurate as possible, make sure you check your family income estimate regularly.
Page last updated: 7 May 2020
This information was printed 23 May 2020 from https://www.servicesaustralia.gov.au/individuals/news/update-your-family-income-estimate-2020-21-financial-year. It may not include all of the relevant information on this topic. Please consider any relevant site notices at https://www.servicesaustralia.gov.au/individuals/site-notices when using this material.