More assistance to families
Support for families
Sarah and Michael have two children aged eight and five. Michael has an annual income of $40,000 and Sarah works part time with an income of $20,000.
Sarah and Michael will receive an increase in their Family Tax Benefit Part A (FTB-A) as part of the Government's Spreading the Benefits of the Boom package. From 1 July 2013, they will receive an increase of $600, bringing their total annual FTB–A entitlement to around $9,150.
This is in addition to the tax cuts of $303 and $600 per annum that Michael and Sarah will receive from 1 July this year.
As part of the Government's Clean Energy Future household assistance package, Sarah and Michael will also receive increased assistance through FTB–A, beginning with a Clean Energy Advance of $175 in May this year.
Extra support for families
Revenue from the Mineral Resources Rent Tax means that the benefits of the mining boom can be spread to every corner of our country. The Government will be providing an extra $1.8 billion in family payments to ensure this growth is shared with over 1.5 million families on low and middle incomes.
From 1 July 2013, Family Tax Benefit Part A (FTB–A) will increase for all eligible families. Around 1.1 million families will benefit from an increase to the maximum rate of FTB–A of $300 a year for families with one child, and $600 a year for families with two or more children. Around 460,000 families will benefit from an increase to the base rate of FTB–A of $100 a year for families with one child and $200 a year for families with two or more children.
Annual Increase in FTB–A
