Working for Families
From 1 April 2018, around 310,000 low to middle income families with children aged under 16 years old will receive more from Working for Families.
What is changing?
- Increases to the Family Tax Credit rates for children aged 0 to 15, so that they align with the rates for children aged 16 to 18 years.
- Increase the abatement rate and decrease the abatement threshold.
|ANNUAL RATE||CURRENT||1 APRIL 2018|
|Eldest child, 16-18||$5,303||$5,303|
|Eldest child, 0-15||$4,822|
|Subsequent child, 16-18||$4,745|
|Subsequent child, 13-15||$3,822||$4,745|
|Subsequent child, 0-12||$3,351|
The abatement rate for Working for Families will be increased from 22.5 cents to 25 cents in the dollar, and the abatement threshold will decrease from $36,350 a year to $35,000 a year.
This brings forward changes that would have progressively occurred by 2025 based on expected movements in the Consumers Price Index. Changing the abatement settings now targets the assistance toward lower income families with children.