Home    Subscribe    Contact    Login

What Does the Federal Budget 2014 Mean for Families

by helenonthesofa (follow)
Check out my Weekend Notes articles here: www.weekendnotes.com/profile/160877
Federal Budget (1)      Family Tax (1)      Australia (1)      Family Costs (1)     
If youíre a parent who wants the low down on what the new budget means for you, hereís a quick overview. As a bit of a spoiler warning, itís nothing to be excited about so try not to get your hopes up.

Photo: Theeradech Sanin, Freedigitalphotos.net


Family Tax Benefit B
The cut off for Family Tax Benefit B has been slashed from $150,000 to $100,000. Additionally, the cut off for families for this benefit, is now limited to where the youngest child is six or older. Previously it was extended to families with children under 18.

No Increases in Family Benefits until 2016-2017
Family benefits will not be revisited in sync with rises in inflation and will instead remain fixed until 2016 or 2017 which will result in a loss of income for families when inflation rises but the benefits do not.

GP Payments
You'll now need to pay $7 each time you visit your GP, have a blood test or an X-ray. For families, after their 10th visit, children under 16 will be exempt from the fee (concession card holders will also be exempt from the fee after their 10th visit). With many families possibly foregoing a trip to the GPís to save money, letís look forward to more contagious bugs and illnesses in schools and nurseries, that will also likely impact families negatively.

Hospital Charges for Ailments
Where a parent takes a child to the emergency room for a routine ailment, they will now also be allowed to charge for this.

Pricier Medicines
Where parents have shelled out $7 to see their GP and been given a prescription, they can now also look forward to more expensive prescriptions, with patients paying a $5 fee for medicines on the pharmaceutical benefits scheme. Concessions card holders will only need to pay an 80 cent fee.

Petrol on the Rise
There will be an excise hike in petrol of 1 cent per litre a year adding to a family's outgoings.

Support Your Kids for Longer
Greater financial assistance to adult children will now be required from parents, due to changes in both Newstart and the Youth Allowance. The age of eligibility for Newstart is to be raised from 22 to 25; and for Youth Allowance, school leavers will now need to wait 6 months to be eligible for payments. Those under the age of 30 receiving Newstart will only be eligible for payments six months out of every 12 months that they remain unemployed.

What do you think of the Federal Budget 2014?

#Federal Budget
#Family Tax
#Australia
#Family Costs
I like this Article - 8
[ print friendly ]
Share: email  facebook  twitter
More Articles by helenonthesofa
There's so much to do when you bring your new baby home, and when you're also sleep deprived, thinki...
486 views
If you've got kids, or frankly if you're a Disney fan yourself, then you will simply love the free M...
211 views
We've likely all been there, when you've got guests dropping by and you've been given 30 minutes not...
380 views
Christmas is a wonderous time for children for many reasons, not least the magical moments when they...
1873 views
This is a great toy from Fisher Price offering enjoyment to any child who loves cars, and enjoys the...
363 views
I can't wait to take my little man to see the new Lego movie, but in the meantime, these colouring i...
118 views
view all articles by helenonthesofa
Articles by helenonthesofa on Other Hubs
My Google Plus Profile
ID: 16053
[ Submit a Comment ]
Trending Articles
If you're looking for cheap baby goods for your baby, here are some excellent stores you can go to t...
10088 views
When the clocks change, or in summer months, it can be difficult if your baby wakes extra early ...
4177 views
One way of cutting the cost of having a baby is to get some of your baby items second hand
8282 views
I love crystals and have a few in my collection, so when junior got a Crystal Growing Kit for Christ...
1740 views
Most preschoolers love telling jokes but don't always 'get' the punch line or might instead tell...
by Jane
2071 views
IPads are a great way to keep kids busy on long journeys or while waiting for appointments
by Jane
1565 views
My 10 year old daughter has a friend who Iím pretty sure is headed down the road of self-destructi...
216 views
I've flown with British Airways before, but generally have opted for other airlines due to cost...
734 views
As the school holidays in Australia reach over the halfway point and the new school year beckons, pa...
210 views
It is well documented that child obesity is on the rise with adult obesity not faring much better
204 views
Categories
Parenting (156)
Play (88)
Tips (47)
Eating (32)
Travel (27)
Safety (23)
Sleep (11)
 
Copyright 2012-2018 OatLabs ABN 18113479226. mobile version