PAID PARENTAL LEAVE
Paid Parental Leave is paid at the National Minimum Wage rate, currently $570 per week before tax, for a maximum period of 18 weeks. The rate of tax depends on your individual circumstances. It is payable to anyone who delivers or adopts a baby.
THE BABY BONUS
The Baby Bonus is a payment of $5,294 payable to anyone who delivers or adopts a baby. It is paid in fortnightly installments. You can’t receive the Baby Bonus and Paid Parental Leave for the same child so you need to work out which is the better option for you financially .
FAMILY TAX BENEFIT A
This is paid at the end of the financial tax year if you have at least one dependent child under 21 and your family income is under $100,000 (this amount increases with how many children you have). The amount received is calculated by the government.
FAMILY TAX BENEFIT B
This benefit gives extra assistance to single income families with a main income of less than $ 150,000 per annum. This is also calculated by the Government when you lodge your tax return at the end of the tax year.
CHILD CARE BENEFITS
If your child is attending a registered childcare center and your family income is under $120,000 per annum, you may be eligible for Child Care Benefits. You have the option of taking this benefit as a reduction in childcare fees during the year or as a lump sum at the end of the tax year. Also on offer is the Child Care Tax Rebate, which can cover 50 per cent of your child care expenses for approved child care, with a rebate of up to $7,500 per child, per annum.
A FEW EXTRAS TO CONSIDER
Through the Medicare system, all children are entitled to free visits to see a GP and one free eye test per year. You must be an Australian Resident to be eligible. There is an immunization allowance to encourage parents to immunize their children and this is payable at rates between $100 and $150. For future info log on to www.familyassist.gov.au
