JavaScript disabled. Please enable JavaScript to use My News, My Clippings, My Comments and user settings.

If you have trouble accessing our login form below, you can go to our login page.

If you have trouble accessing our login form below, you can go to our login page.

How the budget affects you


Lisa Cox

Good for families? Find out how the budget affects you.

Good for families? Find out how the budget affects you. Photo: Melissa Adams

What they said:


  • Increase to family tax benefit A if eligible.
  • For families on maximum rate, extra $300 per year for one child, extra $600 a year for families with two or more children.
  • For families on base rate, extra $100 a year for one child, extra $200 a year for families with two or more children.
  • Limiting of eligibility for Family Tax Benefit A to children under 18, or children at secondary school up to the age of 19.
  • Tripling of the tax-free threshold from $6000 to $18,200, as previously announced.
  • From July 1, the carbon tax will lead to an average increase in household costs of $9.90 per week, but this will be offset by tax cuts and increases in support payments of $10.10 per week on average.

Retirees, pensioners and older workers:

  • $26 million employment program to help eligible job seekers aged 55 and over find work. Program will provide job preparation assistance and up to $500 per participant for items and services they need to get ready for work.
  • $10 million to fund $1000 jobs bonuses for employers who recruit and retain a mature age job seeker for three months.
  • $880 million over five years for home care packages for older Australians.
  • $660 million over five years for residential aged care.
  • More than $700 million for specific aged care services, including palliative care, and dementia care.


  • $2.1 billion over five years to replace Education Tax Refund with Schoolkids Bonus.
  • From 2013, eligible families will receive up to $410 per year for each primary school student and $820 per year for each secondary student for education expenses.
  • $225 million over four years to help with childcare fees for parents on income support who are studying or training.
  • Financial assistance will now be available for parents undertaking new courses at Certificate II or higher level.
  • Access to up to 50 hours of child care per week for parents doing at least 15 hours of work, study or training and up to 24 hours of child care for activities requiring less than 15 hours per week.

Disability Services:

  • $1 billion over four years for rollout of National Disability Insurance Scheme.
  • First stage of scheme to begin in mid-2013 for about 10,000 Australians with a significant and permanent disability in up to four “launch” locations in Australia.
  • From mid-2014, scheme will be expanded to bring the total number of eligible people up to 20,000.

Breakdown of funding for the NDIS:

  • $342.5 million over three years from July 2013 to help with care and support for people with a disability.
  • $240.3 million over four years to build and operate an NDIS information technology system.
  • $154.8 million over three years to employ local area co-ordinators to help with one-on-one care for people with a disability.
  • $122.6 million over four years to help prepare the disability sector for delivering care under the NDIS, particularly in the launch locations for the first stage of the rollout.
  • $58.6 million over three years from 2013-2014 to assess people with a disability in the launch locations to determine their eligibility for the scheme and level of care needed.
  • $53 million over four years from 2012-13 to establish a National Disability Transition Agency to coordinate the care for people in the launch locations.
  • $18.3 million over four years from 2012-13 to continue the Commonwealth taskforce advising the government on the development of the NDIS.
  • $11.7 million over four years from 2012-13 for research into early intervention to improve support for people with a disability.
  • $5.2 million over four years from 2013-14 to evaluate the scheme in the launch locations.
  • States and territories that host the launch sites will have to contribute to the cost of care and support for people with a disability.

Related Coverage

Budget disappointment for Canberra business

Canberra businesses will be disappointed with the budget and confidence could take a hit from cutbacks in federal jobs and spending, Citadel Group managing director Miles Jakeman says.

Sketchy budget details leave farmers unsure

Farmer Mark Horan says the federal budget is "fairly beige for farmers" with little new spending and disappointing cuts in some programs, such as weed removal.

Arts spending cuts give cause for concern

Glass blower Clare Belfrage says an overall cut in spending on the arts and cultural heritage in the federal budget is extremely worrying and perplexing.

Small start not enough, says ACT Blind Society president

A $1 billion rollout of a National Disability Insurance Scheme is "a start" but not enough, says Peter Granleese.

Where the job losses will be

Several thousand public service job cuts are forecast. Here's a list of the portfolios that will suffer most.

The budget: the winners and losers

Families and Australia's ageing population are the big winners in Treasurer Wayne Swan's fifth budget, which has delivered a razor thin surplus of just $1.5 billion.

Swan budget big on class warfare

WHEN Treasurer Wayne Swan wrote his controversial essay on the rising influence of vested interests he was laying the groundwork for a federal budget based more on politics than economics. Today, he took aim and fired a big dose of class warfare.

Budget thumb Canberra Federal Budget 2012

News, analysis, debate and video: full coverage for the government's 2012 budget.

Budget hits Canberra hard as 4000 jobs axed

The ACT receives slim pickings in new Commonwealth Budget spending this year and instead will be hit by thousands of public service job losses and tens of millions of dollars in cuts to operating budgets across major cultural institutions and government agencies.

Business slams scrapping of company tax cut

Business has slammed the government's decision to scrap $4.7 billion worth of company tax cuts and redistribute the revenue to households.

Dollar sinks towards parity as Euro tensions rise

The Australian dollar is poised to fall through parity with the greenback after the Greek political situation came back to “haunt” global markets overnight.

The perilous path to Parliament gets a budget look-in

Greens Senator Bob Brown once said tourists walking from Civic to Parliament House "end up running for their lives" and "scrambling up banks through trees" such is the unfriendly nature of the road and path network, particularly around Capital Hill.

Related Coverage

HuffPost Australia

Follow Us

Featured advertisers

Special offers

Credit card, savings and loan rates by Mozo

Executive Style