Whats my sons BASE year??

Question

To claim the baby bonus (in Australia) I need a base year. Hes dob is 14/10/02. So is it 01 or 02????

Answer 1

The year the child was born or the year you became responsible for the child, adoption etc.

Example

Sharon and Allan had a baby, Lily, on 23 August 2003. Sharon’s taxable income for 2002–03 was $52,000 (gross tax of $12,220), and her taxable income for 2003–04, the year that Lily was born, was $26,000 (gross tax of $3,972). Therefore, Sharon uses 2002–03 as her base year as she could get more money over five years.

Sharon’s base year taxable income is $52,000.

Sharon’s taxable income for 2003 will be compared to her taxable income in each claim year (until Lily turns five). If her income reduces, or is $25,000 or less in the claim year, Sharon will get a baby bonus amount.

Answer 2

Yours sons BASE YEAR is the financial year that he was born in (2003).