We zero rate our Family Tax Benefit, so we choose to get it in a lump sum at EOFY instead of fortnightly. Usually though, when there's govt. money being handed out (such as the pre GFC payments given to families), we still receive them as we are still on the list of recipients.
With these carbon tax payments though, I'm pretty sure when DH and I lodge our tax for 2011/12 we are going to earn over the threshold and not be eligible for FTB this year...so do we then pay the carbon tax money back?
Anyone know how this works?
Why don't they just wait til next financial year starts to pay the money seeing as the carbon tax doesn't come in until then.
PS. Please refrain from any "well you earn so much and you want to keep money you're not entitled to" comments. I'm not saying that. I'm merely asking how the process works for those they pay and then later it turns out that you weren't eligible for this payment. Thanks.
Edited by Blish, 14 April 2012 - 09:29 AM.