Wednesday, 24 October 2012

Baby Bonus will be reduced

Baby Bonus will be reduced

 

From 1 July 2013, the Government will reduce the Baby Bonus payment for second and subsequent children to $3,000 (down from $5,000).
The Baby Bonus will remain at $5,000 for the first child of eligible families and for multiple births. The payment will continue to be paid in 13 fortnightly instalments.
This measure is estimated to provide savings of $505.9 million over four years from 2012-13.
Families will continue to benefit from Paid Parental Leave, the Child Care Rebate, the SchoolKids Bonus and Family Tax benefit part A and B.



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