1 / 8

Proposed 2014-2015 Budget

Proposed 2014-2015 Budget. How it affects Separated Families. Family Tax benefit child add-on. Current System: The amount able to be earned before Family Tax Benefit Part A is affected is increased by $3 796 for each child (excluding the first child). Proposed Budget:

rey
Télécharger la présentation

Proposed 2014-2015 Budget

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Proposed 2014-2015 Budget How it affects Separated Families

  2. Family Tax benefit child add-on Current System: The amount able to be earned before Family Tax Benefit Part A is affected is increased by $3 796 for each child (excluding the first child). Proposed Budget: Removal of the child add-on system.

  3. New Payment Current System: This specific payment does not exist. Proposed Budget: For those eligible for the maximum rate of Family Tax Benefit Part A, a new allowance of $750 will be introduced for each child aged between 6 and 12 years of age.

  4. Large Family Supplement Current System: Subject to certain criteria, a payment is available for each child that is the third or later born child. Proposed Budget: Subject to certain criteria, a payment is available for each child that is the fourth or later born child.

  5. End of Year Supplement Current System: Rises with inflation. Proposed budget: Frozen at $600 per annum for each child under Family Tax Benefit Part A and $300 for each family under Family Tax Benefit Part B.

  6. Family Tax Benefit Part B Current System: Available for children aged 0-18. Primary earner’s income can be up to $150 000. Proposed budget: Available for children aged 0-5. Primary earner’s income can be up to $100 000.

  7. Changed that affect those with low income Current System: No co-pay for doctor visits. Fuel excise is frozen. Proposed Budget: $7 co-pay for doctor visits, which only applies to the first 10 visits for those under 16. Fuel excise is indexed twice a year.

  8. Separated families attempting reconciliation Current system: No financial assistance. Proposed Budget: Couples may be eligible for a $200 voucher to be used in counselling.

More Related