• thynne-macartney-logo
  • Expertise
  • People
  • About Us
  • News & Insights
  • Careers
  • Contact Us
  • Pay Invoice

Child Support: 2021-2022 family income estimates now due

04 May 2021

Services Australia – Child Support has issued a reminder to all families that receive Family Tax Benefit and Child Care Subsidy that it’s now time to provide family income estimates for the coming financial year.

This is also a timely reminder for those who pay or receive child support to ensure that you have finalised your taxation returns and provided updated estimates for child support assessment calculations.

As some taxpayers do not finalise their tax affairs until around this time, Services Australia uses provisional or estimated incomes until they receive information from the Australian Taxation Office that confirms a parent’s adjusted taxable income for child support purposes.  If the adjusted child support income is not correctly recorded, this could lead to an incorrect calculation of the assessment.  This may lead to underpayments and debts being created or overpayments and credits being applied to the child support assessment.

Penalties including interest and late payment fees are applied to child support debts.  If you receive child support, an overpayment may mean that you don’t receive a payment until the credit has been used up.  In either situation, this could have an effect on your financial position.

For specialist advice about child support, contact Andrew McCormack at amccormack@thymac.com.au.

 

mum-and-two-kids

 

 

This information is intended to provide a general summary only and should not be relied on as a substitute for legal advice.

About the Author

Andrew McCormack
Andrew McCormack
Special Counsel Ph: +61 7 3231 8859 Email: amccormack@thymac.com.au

News & Insights

Parenting Orders: What does the delay in returning to school mean for you?

Parenting Orders: What does the delay in returning to school mean for you?

Read More
Coronavirus Alert: SEQ Lockdown – Does it affect parenting arrangements?

Coronavirus Alert: SEQ Lockdown – Does it affect parenting arrangements?

Read More
Budget 2021-22: Impact on Family and Relationship Law

Budget 2021-22: Impact on Family and Relationship Law

Read More
Child Support: 2021-2022 family income estimates now due

Child Support: 2021-2022 family income estimates now due

Read More

Contact Us

  • 07 3231 8888
  • 07 3229 0855
  • mail@thymac.com.au
  • linkedin-logo
  • ally-law-logo

 

Liability limited by a scheme approved
under professional standards legislation.

Brisbane Office
  • Level 32, Riverside Centre
    123 Eagle Street
    BRISBANE QLD 4000
Cairns Office
  • Level 1, Moresby Haus
    4 Scott Street
    CAIRNS QLD 4870

  • 07 3231 8888
  • 07 3229 0855
  • mail@thymac.com.au
  • linkedin-logo
  • ally-law-logo

 

Liability limited by a scheme approved
under professional standards legislation.

  • © Thynne + Macartney 2022
    • Disclaimer
    • Privacy Policy