Family Actual Mean Test and Youth Allowance (1 Viewer)

[Steven12]

Does anyone know how Family Actual mean test affect Youth Allowance, i got sent this form the other day because it claims i failed to inform centrelink about some critical income information on parents income and now it wants to do a FAMT test on that year. does anyone have any knowledge on this topic?

 

[Lainee]

There's a form you and your parents need to fill in to determine what your parent's financial income and assets are and whether you are getting paid the fair amount.

You only need to have your parents fill out the form if you're living at home or otherwise classified as being dependent on them. So if you're living by yourself or are independent, then you need to contact Centrelink and tell them that you don't need to fill out the form.

Otherwise, you need to obtain the Family Actual Means Test form and submit it as soon as possible. Simple as that.

The questions are all concerned with how much your parents earn, what financial assets they have and what their expenses are.

 

[ogmzergrush]

Lainee nailed it, though I'll just add that you may want to be wary of their definition of "independent", as in some cases it differs from what you would expect. Details here.

 

[Collin]

The paperwork from Centrelink is a bitch. Do it promptly and honestly. My parents made a mistake filling it out the first time, and it came to bite me on the ass nearly a year later, through auditing. It nearly resulted in us having to pay back all funds received from them (~$2,000).. and that scared the shit outta me.