Families receiving Family Tax Benefit Part A receive a payment of up to $422 for each child in primary school, and up to $842 for each child in secondary school. The Schoolkids Bonus is automatically paid to eligible families (ie those receiving Family Tax Benefit Part A) in two separate instalments each year— half in January and half in July. The Schoolkids Bonus is paid automatically and upfront meaning eligible taxpayers don’t need to keep receipts for education expenses or make a separate claim.
However, legislation has passed to end the Schoolkids Bonus payments. The Schoolkids Bonus will continue until the end of 2016. The last instalment will be paid in July 2016.
An income test will also apply to the School kids Bonus starting on 1 January 2015.