Thought this link was pretty good.
If im understanding it right, We dont really loose out much even though we are a low income family. The biggest thing for us will be the family tax benefit B, but we will get the 'school age' allowance instead. Petrol prices will affect us but not much as we dont drive too much. Centerlink payments will go down but i will be earning more next year as will DH so it will work out better probably.
We dont use daycare or need the 'paid parental leave' either.
Honestly, i kind of like the cuts to centerlink payments...it means we wont have so many people 'dole bludging', it will force more people to get off their butts to work. Having said that i know single parents who arent able to work will be hit so i do feel for them.