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The financial year runs from 1 July to 30 June. We start to balance FTB payments after the financial year ends and you get your last payment.
You don't need to do anything for your FTB to balance, if for the entire financial year all of the following applied:
- you were single
- you got an income support payment with no gaps in payment
- your earnings didn’t reduce your income support payment to zero at any time in the year.
If you pay or receive child support you still may need to lodge a tax return for child support. Read more about what to do at tax time if you pay or receive child support.
If your income support payment was cancelled or reduced to zero because you earned income, this counts as a gap in your payment. If that happened at any time during the year, we will not balance your payments without you confirming your income.
If you need to confirm your income, either:
- lodge a tax return with the Australian Taxation Office (ATO)
- let us know you don’t need to lodge a tax return and confirm your income.
If you are unsure if you need to lodge a tax return, check Do I need to lodge a tax return? tool on the ATO website.
If you got Child Care Subsidy (CCS) you must still confirm your income with us. Read about when we balance your CCS.
When we'll balance your Family Tax Benefit (FTB)
The date you got your final FTB payment for the financial year determines when we do the following:
FTB payment dates
FTB payment dates if you got FTB in 2023-24
Date of your last 2023-24 FTB payment | Balancing starts | Date we should pay supplements and top ups by |
---|---|---|
3 July 2024 | 3 July 2024 | 10 July 2024 |
4 July 2024 | 4 July 2024 | 11 July 2024 |
5 July 2024 | 5 July 2024 | 12 July 2024 |
8 July 2024 | 8 July 2024 | 15 July 2024 |
9 July 2024 | 9 July 2024 | 16 July 2024 |
10 July 2024 | 10 July 2024 | 17 July 2024 |
11 July 2024 | 11 July 2024 | 18 July 2024 |
12 July 2024 | 12 July 2024 | 19 July 2024 |
15 July 2024 | 15 July 2024 | 22 July 2024 |
16 July 2024 | 16 July 2024 | 23 July 2024 |
When we'll balance your Child Care Subsidy (CCS)
We balance CCS separately to FTB. We’ll start balancing CCS from mid-August and when we get both of the following:
- all attendance information from your child care service
- confirmation of your family’s income.
We’ll then send you a letter explaining the outcome.
Read more about balancing CCS.