If you had a baby or you gained legal responsibility of a child aged under five (for example, through adoption), between 1 July 2001 and 30 June 2004 – whether or not you already have other children – you could receive the baby bonus. Usually, it is the mother of the child who is eligible to claim the baby bonus.
The baby bonus can be claimed each year for a period of five years. The amount of the baby bonus depends on your taxable income in the claim year and your base year.
Do you satisfy all of the following conditions?
o You became legally responsible for a child after 30 June 2001 – for example, by birth or through adoption
o You were an Australian resident at the time.
o You did not have legal responsibility for the child before 1 July 2001.
o The eligible child was aged under five during 2003-04.
You will need to choose a base year and then the baby bonus is calculated from that comparing your current year income to the base year income.
If you did not claim the baby bonus through your tax return during that specified time give us a call and we can submit an application for you.
If you have not claimed you will need your taxable income details from the years in which you intend to claim. If you do not have your records from back then give us a call and we can request them on your behalf.
You have until 30 June 2014 to lodge late baby bonus claims.
For more information please contact us.