Appendix 3 - Financial Impact Statement

Lowering income threshold for family tax benefit Part A

Financial impact (total resourcing)

2005-06 $ 0.9m

2006-07 $364.0m

2008-9 $371.7m

2008-09 $378.9m

Revised process for income

Financial impact (total resourcing)

2005-06 $ 3.8m

2006-07 $ 2.2m

2007-08 $-5.1m

2008-09 $-6.2m

Amendment to the definition of ‘returns to paid work’

Financial impact: These amendments have no financial impact.

Synchronisation of recovery for child care benefit debts owed to the Commonwealth

Financial impact (total resourcing)

2008-9 $0.3m

2008-10$0.0m

2008-11$0.0m

2008-12$0.0m

Improved distribution of child care

Financial impact: These amendments have no financial impact.

backdating provisions for carer allowance

Financial impact (total resourcing)

2005-06 $ 0.8m

2006-07 $-34.7m

2007-08 $-36.4m

2008-09 $-37.3m

Portability

portability of social security payments and family tax benefit overseas.

Financial impact: These amendments have negligible financial impact.

Changes to superannuation income

Financial impact (total resourcing)

2005-06 $3.9m

2006-07 $2.7m

2007-08 $4.0m

2008-09 $5.6m