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Twelve Chartered Accountants

DO YOU HAVE A CHILD IN YEAR 4, 5 OR 6

CHILD TAX OFFSET

In 2001 the government introduced the "First Child Tax Offset".  This was one of the first types of baby bonuses introduced, but unlike todays Baby Bonus Schemes it was not given much media exposure and was confusing.  As a result many parents have missed out on claiming this entitlement.

The offset was introduced to compensate parents for reduced income that followed the arrival of a child born between 1 July 2001 and 30 June 2004. There is information on the ATO website, but like many entitlements it is difficult to understand.  The Tax office has now put a deadline on making a claim (this deadline has not been widely promoted), so we are attempting to let as many parents know about this before time runs out.