Baby bonus

A baby bonus is a government payment to parents of a newborn baby or adopted child to assist with the costs of childrearing. A baby bonus is a government payment to parents of a newborn baby or adopted child to assist with the costs of childrearing. The government of Andrew Fisher introduced a baby bonus of £5 per child in late 1912. The bonus was available irrespective of marital status and could also be received by husbands of women who died in childbirth. While Fisher told parliament that the aim was to help mothers in their time of need, the intention was also to increase birth and infant survival rates in the country. The baby bonus scheme was reintroduced by the Federal Government of Australia in the 2002 budget was aimed at offsetting the expenses associated with bearing a child. The scheme was also introduced as a means of increasing Australia's fertility rate and to mitigate the effects of Australia's ageing population. In the 2004 budget the bonus was raised from $3,000 effective 1 July 2004 to $12,000 payable in 2007 but indexed to inflation so that in October 2007, the amount receivable per eligible child was $4,133. The bonus was paid in a lump sum to a nominated financial institution. From 1 January 2009 the payment is paid in 13 fortnightly installments. The receivable amount in January 2012 was $5,437. The receivable amount in September 2012 is $5,000 in 13 fortnightly instalments (parents will receive a higher first instalment of $846.20 and 12 fortnightly instalments of $346.15), or if the baby died or was a stillborn, parents may ask for their Baby Bonus to be paid in a lump sum instead of fortnightly instalments.