Nine out of ten of the lowest income families lose under the Abbott Government’s Budget, while nine out of ten of the wealthiest families benefit.
It also shows that families will be slugged thousands of dollars even when the Government’s new child care measures – that start in 2017 - are factored in.
This includes:
- A family with a single income of $65,000 and two children will be $6,164 a year worse off by 2018-19.
- A single mother with an income of $55,000 and two children will be $6,107 a year worse off by 2018-19.
- A family with a dual income of $60,000 and two children will be $3,843 a year worse off by 2018-19.
This is proof that Tony Abbott's promise not to hurt families was only ever a desperate lie to save his own job.
This is what the Budget papers refused to tell Australians - the true impact on families.
This Budget has all the same unfairness and pain for families hidden in the fine print.
This is Tony Abbott and Joe Hockey’s hidden hit on Australian families - the closer you look, the worse this Budget gets.
Tony Abbott promised to make things better, but for Australian families he just keeps making things worse.
This proves that despite the spin job, families who can least afford it are being hurt the most by this Budget.
It proves that this Budget just isn’t fair.
Table One
| Family: Couple, single income of $65,000 with 2 kids (one in primary, one in high school) | |||||
| 2015-16 | 2016-17 | 2017-18 | 2018-19 | Total | |
| Annual Impact | -$ 3,734.01 | -$ 4,914.23 | -$ 6,012.84 | -$ 6,164.62 | -$ 20,825.70 |
| Weekly Impact | -$ 71.81 | -$ 94.50 | -$ 115.63 | -$ 118.55 | |
| Family: Sole Parent with income of $55,000 with 2 kids (one primary, one high school) | |||||
| 2015-16 | 2016-17 | 2017-18 | 2018-19 | Total | |
| Annual Impact | -$ 3,714.86 | -$ 4,865.38 | -$ 5,959.72 | -$ 6,107.80 | -$ 20,647.76 |
| Weekly Impact | -$ 71.44 | -$ 93.57 | -$ 114.61 | -$ 117.46 | |
| Family: Couple, dual income of $60,000 with 2 kids (both in high school) | |||||
| 2015-16 | 2016-17 | 2017-18 | 2018-19 | Total | |
| Annual Impact | -$ 825.56 | -$ 2,285.68 | -$ 3,648.76 | -$ 3,843.44 | -$ 10,603.45 |
| Weekly Impact | -$ 15.88 | -$ 43.96 | -$ 70.17 | -$ 73.91 | |
Table Two
Lowest income families (first quintile) with children will lose up to 7.1% of the total disposable income under the Government’s unfair Budget by 2018-19.
The most well off families will actually be slightly ahead under the Government’s Budget, with a small increase in their disposable income.
Quintile breakdown by income (couples/children):
- Q1 - 0-$47,000
- Q2 - $47,000-$59,000
- Q3 - $59,000-$83,000
- Q4 - $83,000-$119,000
- Q5 - $119,000 +
MONDAY, 25 MAY 2015
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