Liberal Party will cut Family Tax Benefit A end of year supplement - $726 per child – affecting around 1.5 million families
They will also cut Family Tax Benefit B end of year supplements - $354 per family – impacting around 1.3 million families
Overall, 1.9 million families will be left worse off by these cuts.
The Liberal Party will also 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. These families will lose $363 per child per year.
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 – an increase of $1,000 a year for families with children under 1
Labor will also oppose the $5 a week increase on FTB-A – designed to partially offset the cuts to the supplements.