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Budget 2013-14: Family Payments Reform – replacing the Baby Bonus
Description of the measure
The Baby Bonus will be replaced from 1 March 2014 with a rate increase of Family Tax Benefit Part A for children who are born, taken into care for at least 13 weeks, or placed for adoption after 1 March 2014.
The extra Family Tax Benefit Part A payments for families will total $2,000 for their first child and $1,000 for subsequent children. It will be paid as an initial instalment of $500, with the rest rolled into normal fortnightly payments over a three month period.
This measure will also amend the Paid Parental Leave work test. Families with children born or adopted within 13 months of each other will have their previous Paid Parental Leave period count towards the work test for their next child. This will allow families to more easily qualify for Parental Leave Pay for their second child. |
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