Having a baby can be expensive. This article highlights the various government family benefit payments available to ensure you receive all the payments and financial assistance you are entitled to.
1. Paid Parental Leave
Paid Parental Leave comes into effect 1 January 2011 and will pay either the employed mother or the father the equivalent of the minimum wage (about $570 a week) for 18 weeks as long as their income does not exceed $150,000 a year.
You can elect to take Paid Parental Leave or the Baby Bonus (not both). For more information view our article Paid Parental Leave vs. Baby Bonus.
To be eligible for Paid Parental Leave you must have been engaged in work continuously for at least 10 of the 13 months prior to the expected birth or adoption of the child for at least an average of around one day of paid work a week.
2. Baby Bonus
The Baby Bonus is 13 fortnightly payments totalling $5,294 and is made to eligible families to help with the extra costs of a new child.
The payment will only be paid if your family's combined taxable income for a period of 6 months commencing on the date the child was born is equal to or less than $75,000 and if you have elected not to take Paid Maternity Leave.
3. Family Tax Benefit - Part A
This is a general benefit to help with the cost of raising children.
Payments range between $51.24 to $160.30 per fortnight based on number of children and family income.
4. Family Tax Benefit - Part B
This payment is designed to provide extra help for single income families with income less than $150,000.
The maximum payment for children under 5 years is 136.36 per fortnight and for children aged 5 to 15 years (or 16 to 18 years if a full-time student) is $95.06 per fortnight.
An additional supplement payment is made to families who are eligible to receive Family Tax Benefit Part B at any time during the income year. It is paid per family as a lump sum after the end of the income year. The amount is currently equal to $354.05 per year.
5. Child Care Benefit
Child Care Benefit is paid if your child is attending child care services approved by, or registered with, the Government. To be eligible for this payment your family income must be less than $134,443 (for one child) increasing for each additional child.
6. The Child Care Tax Rebate
This payment helps working families with the cost of child care. The Child Care Rebate covers 50 per cent of out-of-pocket child care expenses for approved child care up to the annual cap. From July 2010, the Child Care Rebate annual cap will be $7,500 per child per year, subject to the passage of legislation.
7. Maternity Immunisation Allowance
This is a tax-free payment that is generally paid in 2 separate amounts of $125.50 each.
The 1st amount is paid for children who meet the immunisation requirements between 18 and 24 months of age, and the 2nd amount is paid for children who meet the immunisation requirements between 4 and 5 years of age.
If you have unusual circumstances or have any queries regarding benefits, please consult the Family Assistance Office for advice on 13 61 50.