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Australian Government Coat of Arms

Budget | 2014-15

Budget 2014-15
Australian Government Coat of Arms, Budget 2014-15

End notes

  • (a) Government payments include income support payments (for example, Newstart and Parenting Payment) and family payments (for example, Family Tax Benefit Part A and Part B). Rent Assistance is excluded.
  • (b) Tax paid is equal to income tax including the Medicare Levy.
  • (c) Net income is equal to private income and transfer payments less tax paid.
  • (d) The tables show the outcomes in 2016-17 (2017-18 for the pensioner and Commonwealth Seniors Health Card cameos) for selected household types.
  • (e) The restriction of eligibility for Family Tax Benefit Part B to families with children aged under six commences on 1 July 2015 but is grandfathered for two years for existing recipients and will therefore be fully implemented from 2017-18. For illustrative purposes, the tables assume that this policy change is fully implemented from 2016-17.
  • (f) The children in household types with children aged between six and 13 are assumed to be aged over eight. The parent(s) therefore receive Newstart Allowance (where they meet the income test).
  • (g) All household types are assumed to have private health insurance.
  • (h) The tables have been prepared using annualised transfer payment rates.
  • (i) The two cameos for Pensioners and Commonwealth Seniors Health Card (CSHC) holders are for people who: are home-owners, have financial assets that are investments that earn a rate of return equal to current deeming rates, and have no other assets or private income. Deemed income from the specified level of assets is thus income for pension income-testing, and is also taken to be equal to adjusted annual income for CSHC income-testing.