(from bubhub article hereFamilies and the budget in brief:
- Family Tax B’s eligibility threshold will be reduced from $150,000 to $100,000 from July 1, 2015
- Family Tax B will no longer be paid to families once their youngest child turns six (reduced from 16).
- Low-income single parents will continue to receive assistance with a new supplement of $750 a year for each child aged between 6 and 12.
- Family Tax Benefit A end-of-year supplement will be reduced to $600 (from $726.35).
- Family Tax Benefit B end-of-year supplement will be reduced to $300 (from $354.05).
- Tax Benefit A’s maximum income threshold is capped at $94,316 (from $150,000).
- The new Paid Parental Leave scheme - to come into affect on July 1, 2015, has been reduced from a $150,000 income threshold cap to $100,000.
- Changes to payments will not come into affect until July 2015 but rates will be frozen until then.
- School Kids Bonus scrapped
- Only families with four or more children will be eligible for the big families supplement worth $313.90 for each child.
- Petrol prices will jump as the twice annual indexation of fuel excise will be introduced from August 1.
- You’ll have to pay a $7 fee each time you visit the doctor, get an x-ray or MRI etc. Concession card holders and children under 16 only have to pay for the first 10 visits a year.
- Prescription medicine will cost an extra $5 (or 80c for concession card holders).
So - how will you be affected? Will it cause financial distress for you? or will you be able to fit those changes into your current budget/lifestyle?
View Poll Results: How much will the budget affect you? and can you afford it?
- 31. You may not vote on this poll
the budget will not affect me very much at all
The budget will affect me, but it wont cause me any financial difficulties
the budget will affect me, and will cause me to tighten my belt a bit
the budget will affect me substantially, and will cause me financial difficulties
the budget will affect me substantially, and I am not in a position to afford these changes AT ALL
14-05-2014 18:34 #1
How will the Budget affect you?
14-05-2014 19:22 #2
perhaps people could post in here and explain which parts or how much you think the budget will impact you
14-05-2014 19:32 #3
The biggest part that will affect us is the doctors visits , medications etc. my husband and I are both on medication that must be taken every day and we also visit the drs often due to this. That's without including any illnesses dd may come down with.
14-05-2014 19:36 #4
For us it will only be the Drs visit and meds increase and the fuel increase. We dont qualify for an centrelink so we arnt affected there.
I voted it will cause us to tighten our belts, its something we are doing anyway, but we will do it more i think as we just had to get PHI and we are moving DS into Catholic school that has fees.
14-05-2014 19:38 #5
The fuel and additional medical costs will impact me negatively, but we will be ok. I already pay $72 to see a doctor, another $7 won't make much of a difference. In saying that, in glad it's capped at 10 visits for my DS, he's the one who needs the doctor the most.
The PPL will be a positive for my family. It'll enable me to stay home for a year rather than 6/7 months.
14-05-2014 19:46 #6
-fuel hikes which will not only cost more for me in my car but groceries, products etc
-paying more for my HECS debt
-paying HECS sooner
-not going back to retrain when my first degree becomes obsolete
-paying more at the doctor
-watching my nan struggle when the pension is effectively decreased
14-05-2014 19:46 #7Senior Member
- Join Date
- Jan 2014
If anyone's interested, there's a calculator in this article that gives you a rough estimate of the amount of $ you'll gain or lose.
You just have to answer a couple of questions (e.g. do you have a partner, children etc)
14-05-2014 19:53 #8
The budget will impact on us, but it won't leave us in any financial struggles.
The biggest thing for us is we will stop receiving FTB part B, but we're thankfully in the position that it was just a nice bonus at tax time, not something we relied on. There are a few other small things that will mean we get less money from the Government, which I am fine with as again, thankfully we didn't rely on it.
I mostly just feel for those who are so negatively hit by this
14-05-2014 20:00 #9Senior Member
- Join Date
- Apr 2014
It affects me greatly.
As a single mum with 3 kids...
I lose the large family supplement and also FTB when my 5 year old turns 6.
After rent and bills I have about $15 left a week..
Now that will go on the dr as Ds has asthma and is there quite a bit.
I also heard dental scheme is going? That means I won't take my kids to the dentist...
I may look at giving XDH more time with the kids as I don't think I can afford them .
You know you're in love when you can't fall asleep because reality is finally better than your dreams.
Still mummy to Agnes Ronald and Beryl.
14-05-2014 20:05 #10
will you get this one NJ?
Low-income single parents will continue to receive assistance with a new supplement of $750 a year for each child aged between 6 and 12.
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