Changes mean Schoolkids Bonus now means tested

CHANGES to the Federal Government's Schoolkids Bonus came into effect on January 1, meaning the payment is now means tested.

The Schoolkids Bonus will be paid automatically from January 5 to 19 to eligible families and students.

This year, families will only get the bonus if they have an adjusted taxable income of $100,000 or less.

Those eligible for the Schoolkids Bonus and receiving fortnightly payments will receive an instalment of up to $211 for each primary student and $421 for each child secondary student.

Legislation also has passed to phase out Schoolkids Bonus payments, meaning the bonus will only continue until the end of 2016.

The last instalment will be paid in July 2016.

How will the changes affect your family? Have your say in our comments section.

 

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