Summary
Amends the: A New Tax System (Family Assistance) Act 1999 to: increase family tax benefit (FTB) Part A fortnightly rates by $10.08 for each FTB child in the family up to 19 years of age; restructure family tax benefit Part B by: increasing the standard rate by $1000.10 per year for families with a youngest child aged under one; maintaining certain standard rates for families, single parents who are at least 60 years of age, grandparents and great-grandparents; and introducing a reduced rate of $1000.10 per year for individuals with a youngest child aged 13 to 16 years of age who are not single parents aged 60 or more or grandparents or great-grandparents; and phase out the family tax benefit Part A and Part B supplements; Social Security Act 1991 to increase certain youth allowance and disability support pension fortnightly rates by approximately $10.44 for recipients under 18 years of age; and A New Tax System (Family Assistance) (Administration) Act 1999 to make consequential amendments.