centrelink and super ???, page-2

  1. 849 Posts.
    Family Tax Benefit is based on the current financial year, so yes if you receive taxable income in this year it will have an affect on your FTB for the 2008/09 financial year, especially what you have already received from 1 July 2008.

    Youth Allowance is a little different. It basically works on an a calendar year assessment using the tax year that finished in the preceeding calendar year. Hence for 2008 calendar year Youth Allowance is based on 2006/07 financial year. From 1 January 2009 it will be 2007/08 financial year. Saying that come 1 January 2010 when this year will become the relevant year you can request that your income has dropped substantially and ask for a current year assessment. Also at end of next calendar year when they ask for 2008/09 taxable income figures hold of until as close to 31 Dec 2009 as possible as if your income increased by more than 25% from the previous base year they may apply it immediately rather than wait for 1 January to tick over.

    Not an expert on the CSS scheme more so the PSS but normally government super does not allow Transition to Retirement Pensions. You have to fully retire to access your money. If you resign from Public Service you can withdraw your SIS upper limit (which is normally you unpreserved unrestricted component). As i said not a CSS expert as it is no longer an accessible scheme. Please seek further advice on the CSS scheme.
 
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