MIDDLE AND WORKING CLASS FAMILIES ARE BETTER OFF UNDER LABOR
June 11, 2016
A Shorten Labor Government will fight for middle and working class families by scrapping the Turnbull Government’s unfair cuts to family payments.
Labor is serious about responsibly repairing the federal budget, and we will do so without smashing family budgets.
The Turnbull Government’s cuts to family payments will hurt low and middle income families hard – all so they can give tax cuts to big business.
Under the Liberals, 1.9 million Australian families will lose their Family Tax Benefit end of year supplements.
Single parents with teenage children would also have their income dramatically reduced through cuts to FTB-B.
If elected, Labor will protect families from these harsh and unfair cuts.
Australian families will be better off under Labor.
A couple with a single income of $85,000 and two children in primary school will be around $1,300 better off each year under Labor.
A sole parent with income of $65,000 and two children in high school will be around $3,000 better off each year under Labor.
Labor has always believed in targeting assistance to those who need it most, and we will introduce modest measures to better target family payments.
Labor will reduce the family tax benefit end of year supplement by 50 per cent for families earning over $100,000.
These changes will ensure middle and working class families are protected from the Liberals’ harsh and unfair cuts.
Only Labor will stand up for families, because only Labor will put people first.
TURNBULL’S CUTS TO FAMILIES
- Cease Family Tax Benefit A end of year supplement - $726 per child – goes to around 1.5 million families.
- Cease Family Tax Benefit B end of year supplements - $354 per family – goes to around 1.3 million families.
- 1.9 million families will be left worse off by these cuts.
- Reduce Family Tax Benefit B for single parents whose youngest child is over 13 – a cut of around $1,700 a year.
- Reduce Family Tax benefit A end of year supplements by 50% for families earning over $100,000.
- Around 137,000 families on FTB-A have incomes over this level.
- Labor will also continue the current freeze on the top income limits for family tax benefits. This means families on more than around $94,000 a year will receive a reduced payment if their income increases over time.
- Labor will oppose the government’s Baby Bonus – $1,000 a year for families with children under 1.
- Labor will also oppose the $5 a week increase to FTB-A – designed to partially offset the cuts to the supplements.