Is it true?? $1000 per child??

[Indadhanu]

AJP thats what i was going to say, increase spending to stabilise the economy. Same with the home buyers thing, people have stopped borrowing money so they have tried to bring out an incentive.

[Trillian]

LOL Kat.

The stupid thing is though, that people have stopped borrowing money because either they have little or no collateral left if they had a lot of it in the share market (as is our situation) or they don't want to be paying off a mortgage that is more than the value of the house - which is what is happening in the US right now. So giving them more incentives to spend/borrow isn't going to fix anything in the long term and if the banks are foolish enough to lend someone enough for a house that they wouldn't have brought if they didn't get the bonus money is a little worrying...

[Snowy Love]

I could be wrong (I've forgotten all the economics I learnt at school & uni), but I think the point of the payment IS so people spend & stimulate the economy.

[briggsy's girl]

i think we need to wait for it to be outlined properly

my understanding is, when they refer to PENSION, it doesn't include parenting payment single (which is it's proper title)

due to the situation for single parents, they get a pension concession card (as the payment used to be a pension) which gives them higher benefits with the card, but the payment itself is not classified as a pension in the way aged/disabled or carer pensions are

it's all coming across very convoluted at the moment as it hasn't been broken down into specific payment streams. wait it out would be the smartest move


but maz, just for you - IF there is a carer allowance bonus within this, then yes, you'll get the payment for each child plus the carer allowance one - just make sure it IS for carer allowance and not carer payment - two very different entitlements!


as to the timing - it's all about increasing the australian economy - if some of you are cynical, i think i'm the cynical leader - of course it's being release right when people are going to spend it on christmas! give it all back in GST etc!

[bon]

Well I am happy to be receiving this and will use the money to pay off some debt

[satya]

I think the reason they are giving it to us is for us to spend it, not put it in the bank. That's the way it sounds on Parliament Live. It's to stimulate the economy and to do that we need to spend it.

I just wish everyone got it, not just some people.

Maz - it could be like winning tatts for you if it does work that way, but surely it wont.

[maz]

Thanks so much BG - I cant believe it...this sounds stupid...but now we can afford to buy a new window for Vyolett's room and put the rest in the kids accounts.

and dame it...just when Vyolett toilet trains and I dont need any more MCN's!!!!

[Trillian]

as to the timing - it's all about increasing the australian economy - if some of you are cynical, i think i'm the cynical leader - of course it's being release right when people are going to spend it on christmas! give it all back in GST etc!

I'll join your gang

[Lulu]

Bugger that BG, I'm ordering my plasma RIGHT NOW.

[Muppity]

I'll join your gang

Me three!

[Beatrix]

well i for one will not be putting it back in to the economy, well aside from the fridge i desperatly need..


the rest is put aside for rainy day!!!

[satya]

I'd be more than happy to help stimulate the economy by building a new house if the govt would give me $21,000 to do so. Trouble is I'm not a first home buyer therefore apparently unable to help the building industry keep going.

I'll just have to make do with my $1000 for Brocky (if I am indeed entitled).

[Liz]

hmm... hope they don't go on the previous year, coz I don't think we're eligible for FTBA for 2007/08 (haven't done our tax yet ) But we should be eligible again this current year. But we do lump sum at the end of the year, so we don't give them an estimate... so they won't know we're eligible in December. Does that make sense?? LOL.

Sush - I agree with your rant. Altho I'm hoping we are eligible for it.. would be nice.

I'm absolutely no expert on this financial crisis thingo - but I don't understand why only low/middle income earners are being helped out. How are they directly affected by the crisis? The wealthy are probably the ones copping the big fat losses in all of this (and yes they can probably afford the losses) but I just don't get it *confused*

What about retirees who don't qualify for pensions but have lost a heap on their nest eggs? How does giving a low income family with 10 kids $10,000 easing the financial pressure for everyone else? I must admit I completely agree that this is being done with the expectation that people will just go and spend this money.

[Indadhanu]

yep, ours will go into our new savings account. My life is so unexciting that I can't wait to see our balance once we put it in there! And am currently working how much interest we'll make on it LOL.

[Astrolady]

Another who is putting it direct into the savings. Yes it will be spent eventually as we are currently saving to buy a new car (refuse to get a loan to buy one), but it wont be spent this year.

[~clover~]

Ok. I'm loving this idea.
For personal reasons my DH won't be knowing about it (If I can help it) & it is going to be put away.

My question is.......

With the end of financial year $600 (or so) payment for each child it is also based on the childs age (well you are only entitled it for babies after they are born)

Will this be the same?

Jesse was born in March. Would I get the full amount for him or only the 9 months worth that he's been here.
Don't mind either way, but just curious!

[Pretty Butterfly]

Bugger that BG, I'm ordering my plasma RIGHT NOW.

Sushee, I agree babe!! I worked a 50hr a week job as a single mum of three to save my money and not get the pension, even though I was about $40 a fornight ahead for it...

But that said, this money is a god send for us. Adam has to take a week off work in Nov, unpaid, for Kanes Op. We have acc, food and travel for a week in Sydney to pay for, just before christmas...

The Il's are lending us the money, and now we can pay them back, and the big kids dont have to miss christmas because of little Kane...

We receive no extra payments for Kane at all, so these little boosts help us sooo much....

I wish I could spend it on a holiday for the 5 kids, they deserve it!!!

The shops wont be getting much of my money, just a few gifts for chrissy for the kids!!!!!

[mountain mummy]

Sushee - hun, I totally agree with your rant ... I considered going back to work, but worked out we would be worse off if I did, because of all of the extra childcare costs and travel costs involved in getting to a decently paying job! There is also a major disincentive for single mums to get back into the workforce, seeing as how the govt pays more than a full time customer service job (in just about any industry - and I have worked in a few) esp. with childcare being so expensive! (I AM NOT AGAINST SINGLE MOTHERS!!! I was once a single mum too!!!)

Manta Ray - we recently took 2 of our kids out of child care (mainly because they kept getting sick all the time and it was hard having to pay for days they weren't there) but also because they increased their hours which effectively took their fees up and being a S/E SAHM, it was a ludicrous cost for having 2 kids in care 2 days per week! (especially since #4 came along too!)

Astrolady - my IL's are both in their 60's, my MIL got laid off recently and can't get another job, but since my FIL is still working, Centrelink won't assess her for a pension either (or even a HCC or any type of concession card) also because of her super $$$ (which the super co. won't pay out). They both lost alot of super, combined, almost $15K in one foul swoop!

But I'll be honest and say that if Kev is going to give me $4k I'll take it and stick it under my matress for a rainy day.

Trillian, I am so with you there!!

Hmmmmm, might put off moving and buying a house til next year though!!