Howard Government delivers more financial help to Australian families
About 2.2 million Australian families will be better off from July, when a range of payments increase by more than three per cent.
The July increases mean families on a single income of about $50,000 a year with two young children, would receive approximately $10,768 year in Family Tax Benefits (FTB) – an increase of $665 each year.
Minister for Families, Community Services and Indigenous Affairs, Mal Brough said the Howard Government’s big increase to Child Care Benefit would also begin flowing to families from July.
"In addition to the indexation of family payments, Child Care Benefit will increase by more than 13 per cent. A one-off, 10-per cent increase PLUS the regular indexation of 3.3 per cent," Mr Brough said.
"The increased CCB means families on a low income, with one child in full time care, will receive an extra $20.50 per week to help meet the cost of child care.
"In addition, low income families with similar circumstances will also receive the increased maximum fortnightly rate of family payments.
"While the actual rate of CCB will increase, so too will the amount of income a family can earn each year, and still receive the maximum CCB rate, up by $1,168 to $35,478 a year
"For Family Tax Benefit the amount of income a family can earn, and still receive the maximum rate, will also increase, up by $1,318 to $41,318 a year.
The Howard Government’s generous FTB A supplement will increase to $667.95 for each child, payable at the end of the 2007-08 financial year once a tax return has been lodged.
"The FTB B supplement will also increase to $324.85 for each family, payable at the end of the financial year and after the completion of a tax return.
"These increases will benefit millions of Australians, putting more money in their pockets and providing even greater support to families using child care.
"This is further concrete proof of the Howard Government’s continued support for families.
"These supports to Australian families are only possible as a direct result of the Howard Government’s strong economic management. There can be no doubt that under a Labor Government, these benefits and the job security now enjoyed by the overwhelming majority of Australian families would be under threat."