Families Package Bill introduced
A Bill to provide more assistance to families was introduced into Parliament today.
The Families Package (Income Tax and Benefits) Bill includes measures to support the Government’s aim of providing more targeted assistance to low and middle income families with children.
The measures include:
– repealing the tax cuts and changes to Working for Families tax credits announced in Budget 2017;
– increasing the Family Tax Credit and raising the abatement threshold;
– introducing a Best Start payment of up to $60 per week per child to help families with costs in a child’s early years;
– introducing a Winter Energy Payment to help superannuitants and beneficiaries heat their homes over the coldest months;
– reinstating the Independent Earners’ Tax Credit; and
– implementing the Accommodation Supplement and Accommodation Benefit increases announced in Budget 2017.
This Bill follows the recently enacted extension to paid parental leave of 26 weeks by 2020.
For more information see the summary of the Families Package (Treasury's website), the fact sheet for the Families Package (the Beehive website), the Bill, and the regulatory impact assessment (PDF 292 KB) (Treasury's website).
[Updated with direct links to the Families Package information at 5:55pm.]