From 1 July 2008, the Baby Bonus will increase from $4,258 to $5,000.
There have been some other changes too. From 1 January 2009, eligibility for the bonus will be limit to families with income of $75,000 or less in the six months after the birth of the child (effectively, $150,000 per annum).
Additionally, from January, it is my understanding that the baby bonus will no longer be paid as a lump sum, but in fortnightly instalments.
Article by Christie Lewis
Christie is Practice Manager at Alan Lewis Accountants . Besides accounting, her passion is for all things small business (and blogging, of course). You can contact Christie directly at christie@lewistaxation.com.au.
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