Maintenance income: loan repayments 277-51100040
Expand allExamples of assessing and recording private maintenance
This table describes how to manually assess loan repayments and record private maintenance income for customers receiving Family Tax Benefit (FTB). Note: the figures used are example details only.
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Example 1 + Read more ... Carol's separated partner, Ron, pays $150 per calendar month repayment off a loan to provide child support for their 3 children, now in Carol's care. The loan is in both names and is for an entertainment centre that is in Carol's home. Assessable child support = $75 per calendar month ($900 pa) Only half the amount paid is assessed because the other half is paying off Ron's debt. As Carol has not yet applied for a Child Support assessment after separating, this child support should be recorded as voluntary child support. |
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Example 2 + Read more ... Carol's separated partner, Ron, pays $150 per calendar month repayment off a loan to provide child support for their 3 children, now in Carol's care. The loan is in Ron's name and is for an entertainment centre that is available for Carol and her children to use. Assessable child support = nil Although Carol has full use of the entertainment centre, the full amount paid is going toward paying off Ron's debt and increasing the value of Ron's asset. If the loan was in Carol's name only, the full $150 would be assessed as child support. |
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Example 3 + Read more ... Carol and Ron have just separated. They have a joint credit card on which they owe $870. Ron has agreed to pay $100 per week off the credit card so that Carol will be able to use the available credit. Assessable child support = $100 per week Even though it is a joint loan, the full amount paid by Ron is treated as child support because Carol has sole ongoing access to the credit. |