1.1.R.33 Repayment period (FTB advance)

Definition

Repayment period is the period following receipt of an FTB advance (1.2.8.10) during which an individual's FTB Part A rate is reduced to repay the advance. The original repayment period (1.1.O.30) is usually a period of 182 days; however the Secretary may also determine that a shorter or longer period applies based on the individual's circumstances on the advance assessment day (1.1.A.55).

For one-off advances and a first regular advance, the reduction of the FTB Part A rate should start from the day after the end of the instalment period ending after the advance assessment day, or from the first day from which it is practicable to adjust the individual's FTB Part A rate due to the advance.

For second and subsequent regular advances, the repayment period begins on the day after the end of the last 182 day interval. The first 182 day interval begins on the day the repayment period for the first regular advance began, and second and subsequent 182 day intervals begin on the day after the end of the last 182 day interval.

Act reference: FAAct Schedule 1 clause 40(3) of Meaning of repayment period

Policy reference: FA Guide 1.2.8.20 Variations to FTB Advance Repayment Period

Last reviewed: 20 March 2015