A means-tested SchoolKids Bonus to replace the existing Education Tax Refund has been announced by Prime Minister Julia Gillard as a bonus for one million families with school-aged children.
Parents will receive this bonus for each child in school, where an eligibility for Family Tax Benefits Part A exists.
- $820 per year for high school students
- $410 per year for primary school students
The direct cash payments will be paid each 6 months with one full payment being issued in the first year to cover the previous years entitlement.
- As part of the transition to the new Schoolkids Bonus, the Education Tax Refund for 2011-12 will be paid out in full to all eligible families as a lump sum payment in June.
The payment will replace the Education Tax Refund from 1 January 2013.