Federal Budget for families: May 2013

Just a few facts about the recently announced Australian Federal Budget:

• Scrapping the Baby Bonus from March 1, 2014
• Scrapping an increase to the Family Tax Benefit Part A
• Family Tax Benefit A recipients will get payment boost of $2000 for first child and $1000 for subsequent children, to be paid in instalments
• The childcare rebate will continue to be capped at a total of $7500 per year for the next four years
• $1.1billion to be spent in early childhood education

Have you had a chance to consider how it will affect families or more specifically your family?