Updating your income can help you avoid an overpayment. Especially if any of these reasons apply to your family.
You should update your income estimate every time it changes. For example, if:
- your family’s income changes week to week
- you find it difficult to estimate your family’s yearly income.
Sometimes you might not realise that a change in your family’s circumstances has a flow on affect for your payments. These are the top 7 reasons why you and your partner should update your income estimate for Child Care Subsidy. You need to tell us if either of you:
- do casual work, shift work or contract work
- got a raise
- worked more hours than usual
- changed jobs
- started or returned to work
- are self employed
- got income from a bonus or commission.
Some of these changes mean you’ll also need to review your or your partner’s activity details.
What you need to do
You can update your income estimate as often as you’d like. It’s easy to do online and just takes a few minutes.
If you overestimate your family’s income and don’t get enough subsidy, we’ll pay any outstanding amount straight to you. This will happen after the end of the financial year, when we balance your payments.
You may also want to consider increasing your withholding amount. We’ll hold back 5% of your Child Care Subsidy payments until the end of the year. Increasing this gives you a bigger buffer if there are changes in your family’s income.
You can change your withholdings online up to 2 times a year. If you need to increase it more than this, call the Families line.
Read more about how:
- your income can affect Child Care Subsidy
- we’ll balance your Child Care Subsidy
- your activity level affects Child Care Subsidy.
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