Australian Labor Party
School Kids Bonus
The Schoolkids Bonus helps eligible families with education costs. It's automatically paid into eligible family accounts as instalments in January and July every year. The benefit of being that there is now no longer a requirement to make a taxation claim.The School Kids Bonus provides for a total annual payment of $410 per primary school child and $820 per high school child.
Source: Current Legislative Policy
Links: Schoolkids Bonus Policy
Income Tax
As a result of the implementation of the Carbon Price, the ALP were able to increase thetax free threshold from $6000 to $18,600. This means that you can now earn $18,600 before you pay any tax on it.
There are further tax cuts due July 1, 2013.
Source: Current Legislative Policy
Liberal National Party
Schoolkids Bonus Policy
The LNP have stated that they will repeal the Schoolkids Bonus
Source: Mini-campaign Document
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