The Family Tax Benefit (FTB) threshold refers to the income level at which the payment starts to reduce based on the income test. There are separate income thresholds for FTB Part A and FTB Part B. Here are the income thresholds for FTB:
FTB Part A: The income threshold for FTB Part A varies depending on the number of children in the family. As the family’s adjusted taxable income (ATI) increases, the payment amount gradually reduces until it reaches the base rate or nil. The income thresholds for FTB Part A (as a combined annual ATI) are as follows:
- For families with one child: $80,001
- For families with two children: $94,501
- For families with three or more children: $109,001
FTB Part B: The income threshold for FTB Part B also varies depending on the number of children in the family and the age of the child. The payment amount gradually reduces as the family’s ATI increases until it reaches the base rate or nil. The income thresholds for FTB Part B (as a combined annual ATI) are as follows:
- Families with a child under five years old:
- For one child: $100,000
- For two or more children: $112,000
- Families with a child aged five to 18 years old:
- For one child: $100,000
- For two or more children: $150,000
It’s important to note that these income thresholds are subject to change, and there may be additional supplements, allowances, or adjustments depending on individual circumstances.
For the most accurate and up-to-date information about the FTB income thresholds, it is recommended to visit the official Services Australia website (https://www.servicesaustralia.gov.au/) or contact Centrelink directly. They can provide personalized advice based on your individual circumstances and provide you with the current income thresholds.