Summary
Amends the: A New Tax System (Family Assistance) Act 1999 and A New Tax System (Family Assistance) (Administration) Act 1999 to introduce a new family tax benefit (FTB) Part B supplement from 1 January 2005; A New Tax System (Family Assistance) Act 1999 to replace the existing formula for the child income cut-out amount for FTB with a specified indexed cut-out amount; and Social Security Act 1991 and Veterans’ Entitlements Act 1986 to exempt aged care accommodation bonds from the operation of the assets tests.