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Government Payments

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5 Things You Need To Know About The 2015 Budget And Its Impact On Your Family

Despite being tamer than last year, the 2015 was a real mixed bag for families.  If all the measures pass the Senate some families will be better off others worse off.  So here are the 5 main proposed budget changes that you really need to know about.!

(1) If you have a child in childcare – there are big changes you need to know about.

From 1 July 2017, a new Jobs for Families childcare package is expected to come online and replace the Child Care Benefit and Child Care Rebate with a single child care subsidy.  This subsidy will be paid directly to child care providers, reducing upfront fees.

The government estimates that the changes will save working families $30 per week on average.  Families with an income of under $65,000 per year are guaranteed a minimum of 12 hours subsidised child care per week with 85% of their child care costs […]

By |May 21st, 2015|Federal Budget|7 Comments

5 Easy Ways To Sort Out Your Finances for 2015

I cannot believe 2014 has flown by so fast!!!  It feels like one minute it was January, then June, then for me November and December have just rolled into one!!!  Given 2015 is approaching fast, here are some easy ways you can sort out your finances in time for the new year!

1) Do a budget

Oh! I hear you groan. Don’t worry, I understand!  But the truth is that a budget does not have to be a complicated scary beast and it is the BEST way to keep control of your finances.  I used the MoneySmart website’s free budget planner and it was dead easy to get my budget done.  If you want to check out the planner click here, or if you want to read about how I did my budget click here.

2) Boost your income

There are lots of ways to boost your income but one […]

By |December 21st, 2014|General Finance|6 Comments

The Superannuation Co-Contribution – How To Get An Extra $500 Superannuation For Free

I am so excited – this year I qualify for the government’s superannuation co-contribution scheme and I am absolutely going to take it up!!  Let’s face it, there are not many ways you can get $500 for free, particularly from the Government!!!  However, this is one of them and it is really easy!!! Who would have thought!!!

So here is how you do it!  Pretty much to qualify for the full benefit of $500 you have to earn less than $33,516 and put an after-tax contribution of $1000 into your superannuation fund by the 30th of June 2014.  As long as you have put the contribution into your fund and you file your tax-return, the $500 will automatically be paid into your fund by the government.  (Click here to see the full criteria).

If you earn between $33,516 and $48,516, you will still get […]

By |June 19th, 2014|Superannuation|13 Comments

The Federal Budget 2014: What Does It Mean For Your Family?

Ok if the 2014 Federal Budget was all a bunch of gobbledy gook to you then do not worry you are certainly not the only one!!!!  Here is my take on what you really need to know about what was announced in the Budget and how it will impact you and your family!

  • If you get the Family Tax Benefit part B the rules have changed.  Only Families on a income of less $100,000 with children under six qualify.  Though existing recipients of Part B with children six or older will continue to receive payments for two years.
  • Planning to have a baby?  The new paid maternity scheme to start in July 2015 will have scheme payments capped at a payment of $50,000, as opposed the originally promised $75,000.
  • Going to the Doctor will cost you more:  Anyone who sees a doctor and gets bulk billed will pay $7 every time they go.  Non-bulk-billed […]
By |May 16th, 2014|Federal Budget|15 Comments

How To Boost Your Superannuation Balance For Free!

No this is not a scam!  Yes this is legit!  Though I am very proud of you for being skeptical because you should be when it comes to your money.  However, if you qualify I have a way to make a 50% return for zero risk and boost your super balance in the process.

This is through the government’s superannuation co-contribution scheme.  It is really simple.  If in the upcoming financial year you earn less than $33,516 and you put a contribution of $1,000 of after tax money into your superannuation account then the government will put in an additional 50 cents for each dollar (up to $500).  You put in $1,000 and they give you $500 for free!  There are not too many legitimate investments that I know of in which you can a 50% return, for zero risk, guaranteed.  It is the closest thing I have seen to money […]

By |July 23rd, 2013|Superannuation|11 Comments

2013 Budget Low Down: What Does It Mean For Your Family?

After spending a cosy night on the couch with a glass of wine and Mr Swan on the telly, the budget turned out to be a bit of a non event.  As with most budgets most of the unpalatable stuff had already been leaked and interestingly there was none of the major vote grabbing hand outs that you would expect from a government facing an election in four months time.  The fastest summary I can give from a family point of view is, baby bonus scrapped, Medicare Levy up and wave good bye to your promised tax cuts.  Oh and if you are a smoker the cost of your cigarettes will increase too.  So here is the low down on some of the things I think you really need to know from the Budget….

(1) Baby Bonus Scrapped

So let’s start with probably the most controversial policy change from a family point […]

By |May 15th, 2013|Federal Budget, Government Payments|2 Comments

Dad and Partner Pay

It is not very often you get something for free.  So, for those of you who are having a baby or thinking of having a baby here is a new government payment to keep in mind.  It gives dads two weeks paid parental leave at $606 per week before tax.  It is available to eligible working dads or partners (including adopting parents and same-sex couples) who care for a child born or adopted from the start of 2013.

As with most government payments there are conditions that need to be met including that the recipient of the payment:

  • provides care for a child born or adopted from 1 January 2013
  • are an Australian resident
  • meets the work test, which requires they have to have worked for:
    – at least 10 of the 13 months before the date of the Dad and Partner Pay period starts, and
    – at least 330 hours in that 10 month period […]

By |March 13th, 2013|Government Payments|0 Comments