- From 1 July 2007, rates of Child Care Benefit will increase by 10 per cent, on top of indexation. This will provide additional assistance to over 700,000 families. A family on maximum rate Child Care Benefit with one child in Long Day Care for 40 hours per week will receive $134.80 per week — an extra $16.40.
- From 1 July 2007, families will receive the Child Care Tax Rebate — up to $4,200 per child —as a direct payment shortly after the year in which they incur childcare costs.
- The Child Care Tax Rebate will no longer be paid through the Australian Taxation Office; instead payments will be made through the Family Assistance Office (FAO) at the end of each financial year.
- Families with out-of-pocket costs in both 2005-06 and 2006-07 will receive two rebates in 2007-08, one through the tax system under current arrangements and the other as a direct payment.
- The Government will provide $728.5 million over five years to increase the rate of Child Care Benefit. As this reduces the out of pocket payment for families there will be a reduction in the Governments total Child Care Tax Rebate Payments of $180.0 million.
- Recipients of the Carer Payment will receive a one-off $1,000 bonus payment while those who receive the Carer Allowance will be given a $600 bonus payment, at a total cost of $394 million. Generally, people receiving Carer Payment would also be receiving Carer Allowance and so will receive a total of $1,600.
- Subject to the passage of legislation, the payment will be automatically made to the majority of eligible carers by 30 June 2007. Headline figures for the Budget: Federal Budget: $235.6 billion Biggest Portfolio: $51.8 billion Health and Ageing Budget Surplus: $10.6 billion Tax cuts: $31.5 billion (over 4 years) - Details courtesy of TOCC (Taskforce on Care Costs)
Headline figures for the Budget:
Federal Budget:
$235.6 billion
Biggest Portfolio: $51.8 billion Health and Ageing
Budget
Surplus: $10.6 billion
Tax cuts: $31.5 billion (over 4 years) -
Details courtesy of TOCC
(Taskforce on Care Costs)
Source: Working Carers Support Gateway