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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.
What information we need to balance your FTB
We can only balance your FTB after we’ve made your last payment for the financial year and we have all the information we need. This applies if you got FTB fortnightly or choose to get all of your FTB at the end of the financial year.
We will pay the last FTB payments for 2023-24 between 3 and 16 July 2024.
If you’ve lodged your tax return, the Australian Taxation Office (ATO) will tell us your income. We usually get this within 28 days of you getting your notice of assessment from them.
If you separated from a partner
If you separated from a partner during the financial year, we’ll balance your FTB after you confirm your income.
If your ex-partner hasn’t lodged their tax return yet, we’ll use the income estimate that we have for them.
We balance Child Care Subsidy (CCS) and FTB separately. If you also got CCS, read more about how we balance CCS if you separated from a partner.
If you were single and got an income support payment
If all the following apply, we’ll balance your FTB without you doing anything:
- you were single for the financial year
- you’ve received your last FTB payment for the financial year
- you got an income support payment for the financial year 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 may need to lodge a tax return for child support.
Read more about when we’ll balance your FTB.
If you got CCS you’ll need to confirm your income, even if you don’t need to for FTB. Read more about balancing CCS.