Blog

We know that the tax topic can be a little bit boring. That's why our blog is not just about numbers. That said, no matter what area of business you're in or where you're at in your finance life, we like to make taxation and accounting easier for you. It's here where we share our knowledge on numbers to help you more effectively manage your taxation and accounting.

Sign up with Pakenham Taxation + Accounting to receive tips on how to better manage your personal and business tax.

Recent Changes to Parental Leave Pay

Date posted: Wednesday, March 5, 2014

If you’re expecting a baby or if you’ve already recently welcomed that new addition to your family you might be asking yourself …

Can I still claim the baby bonus?

On the 1st of March 2014, the distribution of the Baby Bonus officially ended. Parents who have a newborn baby or adopt a child after this date are now eligible for Parental Leave Pay or the Newborn Upfront Payment.

How do the changes to the Baby Bonus effect Parental Leave Pay?

Despite the scrapping of the Baby Bonus, no changes have been made to Parental Leave Pay. This payment will continue to be calculated based on the National Minimum Wage and equates to $622.10 a week, before tax.

Payments are made by employers or by the department of Human Services for self-employed new parents. For a maximum of 18 weeks, payments are deposited to parents on a fortnightly basis.

What does the government now offer instead of the baby bonus?

If you are ineligible or choose not to claim Parental Leave Pay for your newborn or adopted child, you may be eligible for the Newborn Upfront Payment and Newborn Supplement. Unfortunately, you cannot claim both payments.

The Newborn Upfront Payment and Newborn Supplement rate and eligibility is based on an income test as well as other factors. For those who qualify, the maximum amount paid is $2001.50 for a first child and $1000.50 for following children.

Still have questions? You can find out more by giving us a call, sending us an email or booking in for a visit. We specialise in servicing individuals and businesses in the South Eastern Suburbs including Pakenham, Lakeside, Berwick, Nar Nar Goon, Garfield, Tynong and Koo Wee Rup.

 

Search Blog

Blog Categories

 

 

Blog Archives

 

 

Follow us

 

 

Subscribe

Sign up with Pakenham Taxation + Accounting to receive tips on how to better manage your personal and business tax.

Most Popular Articles