The Understanding Benefits series will continue with a look at Family Tax Benefit (FTB). This can be a somewhat confusing payment, so I'll split this into several shorter posts.
What is Family Tax Benefit?
There is probably more confusion surrounding FTB than any other payment. Family Tax Benefit has two parts; Part A and Part B. You may be eligible for either one of Part A, Part B or both.
Part A is designed to help with the cost of raising kids and is paid for each dependent child you care for who is aged under 21 (or 21-25 years and still studying full-time).
Part B is designed to provide extra support to families with one main income earner, including sole parent families. Part B is a family payment and can be paid until the youngest child is 16 years (this can be extended to 18 years if the child remains in full-time study and does not receive a social security payment of their own).
Future posts will look at both Parts A and B and answer the questions of who qualifies, how to claim and how much it will be.
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