Yahoo Finance $400 cost-of-living cash boost coming for 700,000 Aussie families
The Victorian state government has announced a funding package to help households pay for education costs.
The Victorian government has announced a $400 one-off payment is coming to the families of 700,000 students. The cost-of-living cash boost is designed to help households pay for education costs like sporting events, uniforms or school camps.
Premier Jacinta Allan hopes it will provide some financial relief to parents and said her state budget, which will be handed down today, is aimed at helping families all over Victoria.
“We are focused on how we can support Victorian families as Labor governments always do,” she said. “The budget will be firmly focused on Victorian families. We will also be taking the sensible and disciplined decisions that we need to make.”
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Treasurer Tim Pallas said Allan wanted to make sure the budget's "tough decisions" wouldn't hurt household income.
"It’s good to see that we’ve got a Premier who’s a little bit more focused on the wellbeing of the broader community and her responsibilities as leader of the government,” he said.
“She’s made very clear to me that she wants to make sure that we don’t adversely impact upon the wellbeing of family budgets at a time they’re dealing with higher cost of living and the challenges of getting their own finances in order.”
Am I eligible for the $400 payment?
Families who send a child to a state school will be in line for the one-off payment from the Victorian government from term four.
The payment will also be given to concession card holders at non-government schools.
The government predicts this funding package will affect 700,000 students and will cost taxpayers $287 million.
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How does the payment work?
Families who receive the money will get it in two forms: as credit or as a voucher.
The credit can be applied to school events and activities like excursions or sporting programs, while the voucher can go towards school uniforms or supplies.
The credit and voucher cannot be used for school fees or non-education-related expenses. The payment is given on a per-child basis, meaning a family with four children would get a $1,600 payment.
If your child attends a government school, you don't need to apply or do anything to receive the payment as the funds will be provided to your child’s school. However, the application process for non-government schools will be the same as the existing Camps, Sports and Excursions Fund.
Federal Treasurer Jim Chalmers congratulated Allan and Pallas for helping families during the cost of living crisis.
“I think these cost of living pressures are acute, they are still substantial, we need all shoulders to the wheel and so I welcome the contributions that some states are making to that effort,” he said.
“I respect Tim and I like working with him and no doubt he has had some difficult decisions and trade-offs to make in the same way that we have. I like to work with the states and territories rather than against them."
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