Hiển thị các bài đăng có nhãn Bonus. Hiển thị tất cả bài đăng
Hiển thị các bài đăng có nhãn Bonus. Hiển thị tất cả bài đăng

Thứ Tư, 15 tháng 5, 2013

Baby bonus: You'll have to get in quick

The government will abolish the baby bonus as part of its path back to surplus in 2016/17.

Baby bonus

Picture: Thinkstock Source: Supplied

DOCTORS are warning of a rush by couples to get pregnant ahead of the scrapping of the $5000 baby bonus.

Obstetricians also fear mums could move forward scheduled caesareans to beat the axing of the payment on March 1.

Retailers have warned they too could suffer as a result of the cut in Tuesday's budget, saying prospective parents would have less money to spend.

Couples hoping to take advantage of the Howard-era baby bonus - slashed to save $1.1 billion - have just nine days to conceive a child if they hope to deliver a baby before the cutoff date.

Wayne's word blog

The Australian Medical Association's Steve Hambleton told News Limited there would be a "surge" in the birth rate in late February.

"If families are considering children and are prepared there is an opportunity, but it is only open for another two weeks," Dr Hambleton said.

"There will be a surge."

Michael Permezel, president of the Royal Australian and New Zealand College of Obstetricians and Gynecologists, said it would be a "pretty busy couple of days" for elective caesareans ahead of March 1.

"Some might change their dates by one or two days but they can't move a week or more," Dr Permezel said.

"I would say it will be a pretty busy couple of days before March 1 and a not so busy couple of days after."

The axing of the baby bonus - introduced by Peter Costello in 2004 - is estimated to affect around 160,000 families in 2014/15. Around 113,000 of those will receive payments under Family Tax Benefit part A of $2000 for a first child and $1000 for every subsequent child to offset the cut.

Retailers said they were expecting a hit to their revenues.

Woolworths' head of supermarkets and petrol, Tjeerd Jegen, said he was concerned about the change.

"Cutting the baby bonus will hit one of our critical customer groups, young families. This puts more pressure on retailers and suppliers to continue to deliver value," he said.

Australian Retailers Association executive director Russell Zimmerman said the baby bonus cut would "absolutely" hurt the sector.

"When a family is expecting a child they have lots of costs, not just for prams and cots but also medical expenses. Without the $5000 payment many will have to scrimp and save meaning less spending in retail stores," he said.

An analysis of 2011 census data by News Limited has identified the baby hotspots around the nation and those families most likely to be affected.

In NSW, Blacktown was the suburb with the highest number of children between 0-1 years old. Of the 1506 children between 0-1 years in that area, around 60 per cent of families earned less than $156,000 making most eligible for the baby bonus which is paid to households earning less than $150k.

In Queensland, Upper Coomera, on the Gold Coast, was the suburb with the biggest number of children between 0-1 years old. Of the 913 children between 0-1 years in that area, around 64 per cent of families earned less than $156,000.

In Victoria, Point Cook, southwest of Melbourne, was the suburb with the highest number of children between 0-1 years old. Of the 1676 children between 0-1 years in that area, around 59 per cent of families earned less than $156,000 making most eligible for the baby bonus which is paid to households earning less than $150k. Point Cook had the highest number of infants in the country.

In South Australia, Mount Gambier was the town with the highest number of children between 0-1 years old. Of the 704 children between 0-1 years in that area, around 53 per cent of families earned less than $156,000.


View the original article here

Wong stands by baby bonus axing

Strap 4

Labor has released its own animated explanation of the 2013 budget.

FINANCE Minister Penny Wong has defended scrapping the baby bonus while retaining the SchoolKids Bonus.

She said no saving was ever painless, nor free of criticism.

''You've got to make a judgement about how you make savings and how you make room for the reforms of the future,'' she said.

''Someone asked me yesterday what are families getting out of this and I said, well you know what they're getting, they're getting investment in our schools that means we don't keep leaving Australian children behind because of where they live and the circumstances of their families.''

NSW Labor MP Andrew Leigh said the baby bonus had never been a good idea anyway.

Penny Wong

Senator Penny Wong talks over the details of the budget with members of the media during 'Budget lock up'. Picture: Getty Images

''We know that the baby bonus didn't have a big impact on fertility,'' he said.

Mr Leigh said a Melbourne University study put the cost of each new baby induced by the baby bonus at $150,000 a year.

''So this was never good, public policy,'' he said.

''And what we've done by means testing it and bringing the amount down has been in the spirit of the means-tested, targeted social safety net which has served Australia well for decades.''

The SchoolKids Bonus, on the other hand, helped with specific education costs like uniforms and text books, he said.


View the original article here

Thứ Ba, 14 tháng 5, 2013

Bye bye Baby Bonus

baby

The Gillard Government is axing the Baby Bonus. Source: Supplied

AXING the Baby Bonus and pruning family payments will strip middle-class families of more than $3 billion in benefits, as the Gillard government weans working parents off welfare.

About 28,000 families who have a baby next year will miss out on any taxpayer benefits - and families face even higher costs for childcare.

Women who fall pregnant this week will be the last to benefit from the $5000 Baby Bonus, which will be abolished in nine months time.

From March 1, the Baby Bonus will be replaced with a lower payment of $2000 for first-born babies and $1000 for subsequent children.

The new payment will be made through the Family Tax Benefit A (FTB-A) - meaning the full amount will only be paid to families earning up to $101,000 if they have one child, or $112,000 for larger families.

Middle-class families earning slightly more will get only part of the new payment - which will cut out completely for parents earning $107,000 with one child, or $118,000 for more children.


All babies born before June 30 this year will qualify for the $5000 payment if their parents earn up to $150,000 a year - but the benefit will be cut to $3000 for siblings born on or after July 1.

The federal government estimates 48,000 families who would have expected the Baby Bonus next year will miss out.

Of those, 20,000 families will qualify for paid parental leave instead, as a result of budget changes to make it easier for women to have a second baby without first going back to work, and still get paid leave.

But 28,000 mothers will miss out on both payments - because their income is too high for FTB-A, or they were not working before they had their baby.

Treasurer Wayne Swan said the Baby Bonus was "not sustainable".

"We understand there'll be some people unhappy about this decision," he said.

"But at the end of the day decisions had to be made about who needs the payment.

"The payment had been increasing dramatically and is not sustainable in its current form."

The change will save taxpayers $1.1bn over five years.

Families Minister Jenny Macklin said the lower payment "more closely reflects the essential up-front costs of having a baby".

Her office provided estimates that a pram would cost $218, a cot $399, a change table $148 and clothes $216.

Single-income families stand to lose the most - $3000 a year for those earning $90,000, with one child, or $2000 a year for those earning $105,000, with two children.

The Treasurer has also managed to save $1.2bn by freezing the upper income limit for Family Tax Payments to $150,000, meaning the threshhold will not be raised each year in line with inflation.

Parents will also be left out of pocket as the Government freezes the maximum rebate for childcare fees to $7500 for four more years, robbing working families of $717 that they might have received through indexation.

The budget also lights the fuse for a likely blowout in childcare fees in two years' time.

The Government will pay childcare centres $300m to give workers a $3 per hour pay rise - but only until 2014/15.

After that, childcare centres will have to pay the entire wage bill themselves - and are likely to charge parents more, to cover the expense.

The budget papers indicate a 20 per cent surge in the cost to taxpayers of childcare subsidies for working parents, from $5bn this financial year to $6b in 2016/17.

Taxpayers will spend $8m telling parents how they can receive rebates - but only in this election year.

Budget - Ask the experts

 

View the original article here