There can be several reasons why your Family Tax Benefit (FTB) payments have dropped. Here are some common factors that can affect the payment amount:
- Income Changes: FTB payments are income-tested, which means that your family’s adjusted taxable income (ATI) can impact the payment amount. If there has been an increase in your family’s income or if your income has exceeded the income threshold, it can result in a reduction or cessation of FTB payments.
- Changes in Family Circumstances: Changes in your family’s circumstances, such as the number of dependent children, their ages, or changes in custody or care arrangements, can also affect the FTB payment amount. Updating Centrelink with accurate and current information about these changes is important to ensure the payment is correctly calculated.
- Review or Reassessment: Centrelink periodically reviews FTB entitlements to ensure accuracy. If there has been a recent review or reassessment of your circumstances, it may result in a change in your payment amount. This can occur due to updates in income information, changes in family circumstances, or other factors.
- Overpayment Recovery: If you have received an overpayment of FTB in the past, Centrelink may deduct the overpaid amount from your current payments. This can lead to a decrease in the ongoing payment amount until the overpayment is fully recovered.
- Indexation: FTB payment rates and income thresholds are subject to regular indexation. This means that the payment rates and thresholds can change over time in line with changes in the cost of living and government policy.
It’s important to review your payment details, check for any correspondence from Centrelink, and ensure that your information is up to date. If you have specific questions or concerns about the reduction in your FTB payments, it is recommended to contact Centrelink or visit the official Services Australia website (https://www.servicesaustralia.gov.au/) for personalized advice and assistance.
They can provide you with information on the specific reasons for the decrease in your payments and help you understand your current entitlements.