Heard about carbon tax compensation but not sure if your family is eligible? Find out here

There’s been a lot of debate about the carbon tax, but not much clear information on who’s getting the compensation, what you have to do to get it, and what costs will go up that our compensation is supposed to cover.

Here are some answers.

If you have any questions or would like clarification on anything, please say so in the comments section and we’ll try and find out for you!

  1. Who’s getting compensation?

There is some money which the government is calling a Clean Energy Advance which will go to pensioners and others on income support, plus everyone who receives Family Tax Benefit part A and B.

This money will be paid as a lump sum and you should have received it already.

We always suggest you check the official government websites before determining your eligibility but the general rules are:

  • Family  Tax Benefit Part A is paid to families earning up to around $160,000 a year, depending on number of kids and their ages.
  • Family Tax Benefit Part B is limited to families (single parent or couple) where the primary earner earns up to about $150,000 a year and the secondary earner earns up to $25,000 a year

So what do I get?

  • Family Tax Benefit Part A recipients will receive up to $110 for each child.
  • Family Tax Benefit Part B recipients will receive up to $69 per family.
  • Single pensioners will receive up to $250.
  • Pensioner couples will receive up to $190 per eligible member.

These lump sum payments are designed to cover the first 9 months of the carbon price for pensioners and the first 12 months of the carbon price for families.

There will also be regular payments called the Clean Energy Supplement added to your regular payments.  Or added at the end if you receive your Family Tax Benefit as a lump sum.  These start from March next year for pensioners and from July next year for families.

It’s ridiculously hard to find out details about this supplement and rates on government websites that is in plain English, but if you want to find out more about your specific circumstances, there is a pretty good estimator here where you can enter your personal circumstances.

Note it says it takes about 15 minutes to fill out, but it only took me three. Maybe that’s working mum efficiency 🙂

  1. What do I have to do to get it?

Nothing.  Everyone eligible for these payments is already ‘in the system’ so the payments will be made to the bank account you’ve already provided the government.

Changes to your tax rate if you’re earning under $80,000 (more details here) should be made automatically by your employer.

  1. But what will the carbon tax cost in extra costs for power etc?

The estimator can give you specific details for your family, but for mine it reckons prices will go up around $20 a week.  Less if I can get Miss 3 to watch less Dora the Explorer and save on the power bill. Unfortunately there is no chance of that happening anytime soon…

There are some typical scenarios of different family types here if you don’t have time for the Estimator but want a general idea for your family type.

Other assistance details are available for:

Low income earners here

Single income families (where the income earner doesn’t get much of a tax cut) here

And some families may be eligible for an essential medical equipment payment and you can get more info here.

Check it out and let us know how you think you’ll go.

What will your costs be?

Do you think you’ll be worse off or better off?

Do you have more questions?

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One response to “Heard about carbon tax compensation but not sure if your family is eligible? Find out here

  1. Pingback: Top 3 Most Googled Questions From Working Mums in 2012, and the answers! | workingmumsaustralia

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