Last Year of the SchoolKids Bonus
2nd March 2016
The SchoolKids bonus is being phased out with the final instalment being July 2016.The SchoolKids bonus is available to a parent or carer receiving Family Tax Benefit Part A for a dependant child in primary or secondary education and the family adjusted taxable income is less than $100,000.
From 1 January 2016, eligible families will receive SchoolKids Bonus in instalments in January and July as follows:
- Two $215 instalments for each primary school child, totalling $430 a year
- Two $428 instalments for each secondary school child, totalling $856 a year
These payments will be made electronically through the Department of Human Services.
For any information please contact your accountant.