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Family tax benefit.
I am working for myself through a foundation receiving sustenance. I have completed tax returns with marks method simple straight forward nothing to declare. My wife works 1 day a week and was receiving a tax benefit Payment which got bigger when I started working for myself in the private due to a 100 dollar taxable income. We eventually made the call to stop receiving any government assistance at all and just try to get by with earning our own way. I’m second guessing whether it was the right move as the money would come in handy.
Q1- Would anyone else in my position find it unethical to receive a FTB while working in the private or completely fine ?
Q-2 by completing tax returns every year using marks method to receive the FTB would I be opening myself up to conflict/ trouble with different organisations ie ATO / Centrelink ?
Thanks
Opinions appreciated
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2 Replies
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I used to work and have a benefit. It was useful as a safety net and one time I had very little taxable income and so the benefit was intact another time I had more taxable income and the benefit was reduced to $30 per week. It was minimal payment however it was good to have that safety net in place for when I either stopped working or was forced to stop for whatever reason. I used to complete a tax return every year and one time I was audited but I had my business records in order and so it was no problem. (anything of a private nature and outside of the public domain they are not entitled to see and you are not obligated to declare, if you do decide to declare it you then give them jurisdiction)
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I understand, in your case though it sounds like you were receiving the payment while working in the public with a registered business.
The FTB is only received on the basis that tax returns are completed the lower the taxable income the bigger the payment. Is it unethical to double dip ?
(Having the benefits of working in the private while getting assistance ?)
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