Payments to Australian Families to Increase
Parents currently receiving Family Tax Benefit (FTB) and Child Care Benefit (CCB) payments will receive an increase in their payments from the first week of July 2005, assisting them to meet the cost of raising their children.
The Minister for Family and Community Services, Senator Kay Patterson, said the payments would increase by 2.6 per cent.
“The Howard Government remains committed to assisting parents in providing for their children and balancing their work and family commitments and this increase ensures the payments keep pace with the Consumer Price Index,” Senator Patterson said.
“Families using approved child care during the year will benefit with the maximum assistance for low income families with one child in full-time care rising $3.50 to $144.00 a week.
“The maximum fortnightly rate of FTB Part A will increase by $3.50 to $137.06 for a child under 13 years, while for a child aged 13 to 15 years the increase will be $4.34 to $173.74 a fortnight. The annual FTB A Supplement will also increase to $627.80.
“The maximum fortnightly rate of FTB Part B for parents with a child under 5 will rise almost $3 from $114.66 to $117.60. The new FTB Part B Supplement, which was introduced six months early on 1 January 2005, will be $150.23 for the six-month period and $306.60 for the full 2005-06 financial year.
“This latest indexation increase means more families will be eligible for Family Tax Benefit and Child Care Benefit payments and they will receive higher rates of assistance.
“The increases follow the Howard Government’s record assistance for families in helping with the affordability of childcare,” Senator Patterson said.
Other payments to increase as a result of the annual indexation are the Large Family Supplement and the Multiple Birth Allowance.