by Alan Thornhill
Families with 16-19 year olds, who stay in school, or vocational training could get an increase of $4,208 each, in their family payments.
The Prime Minister, Julia Gillard, said this would increase will bring the maximum rate of Family Tax Benefit Part A for eligible teenagers to $6,307 a year.
“We all know teenagers don’t cost less once they turn 16,” Ms Gillard said.
“ If anything they cost more, which is why we’re making this important change today.”
Ms Gillard said there are about 630,000 families across Australia with a teenager turning 16 within the next five years.
She said they stand to benefit from this increase if their child stays in school or a vocational training equivalent.
The Minister for Families Jenny Macklin said teenagers who finish their education or get a trade are better off in the long term.”We want all children to stay in school or get school-based apprenticeships to give them the best chance at getting a good job,” Ms Macklin added.
Alan Thornhill is a parliamentary press gallery journalist.
Private Briefing is updated daily with Australian personal finance news, analysis, and commentary.
Tuesday May 21
The Dow Jones Index fell 18.97 points to 15,335.40
Unions are seeking a rise of $30 a week in the National Wage Case, which opens today
The latest Morgan Poll shows support for the L-NP down 1 per cent to 55 per centover the past week and the ALP at 45 per cent, 1 per cent, on a two-party preferred basis.
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