Boost to families bank accounts from today

From today more than 1.6 million Australian families will receive more money in their bank accounts to help them make ends meet.

Across Australia a total of about $325 million in household assistance will be going out to low and middle income families before the carbon price starts on 1 July.

Families on Family Tax Benefit Part A will start receiving Clean Energy Advance payments of up to $110 for each child and families receiving Family Tax Benefit Part B will get up to $69. This payment will be paid straight into families’ bank accounts over the coming few weeks.

Pensioners, students and other eligible payment recipients are also set to receive increases in their support payments before the end of June. And in July Australian workers will benefit from new tax cuts.

Labor understands the pressures on working families – that’s why we’ve cut taxes, increased family payments and child care assistance and delivered Paid Parental Leave.

And from next year we’ll be delivering even more to help families balance their budgets:

• A new Schoolkids Bonus for more than 1.3 million families – $410 a year for each child in primary school and $820 a year for each child in secondary school to help with education costs; and
• A boost to Family Tax Benefit Part A for all 1.5 million eligible families – for families on the lowest incomes with two or more children an increase of $600 a year, and $300 a year for one child families.

Only Labor will deliver for hard working Australian families, because we understand how tough it can be to make ends meet.

In contrast, Tony Abbott and the Liberals will hit you in the hip pocket by clawing back all of this new financial support.

Families can find out more by visiting australia.gov.au/householdassistance or calling 13 24 68.

*Data based on customers eligible for instalment payment of FTB at 11 May 2012. Amount is based on the expected costing and doesn’t take into account future changes in customer information, eligibility and circumstances