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sphinxx leaders in the firing line of Australia’s first Labor budget in 11 years

As Australia’s “Wealthy Families” – defined by Australia’s new government as those earning more than $150k – bear the brunt of last night’s budget announcements, sphinxx leaders could be forgiven for feeling disadvantaged for pursuing career advancement and promotion.

If your family income exceeds $150k, you will be subject to tough means testing on the Family Tax Benefit.  And if your family earns more than $75,000 you will no longer receive the baby bonus.  Families earning more than $110,000 will also lose access to the minimum rate of child care beneft.  The good news is your after-tax child care payments will be elibigle for an increased rebate of 50% instead of 30% – though there’s no clear direction on how the government will ensure this benefit sits with families rather than child care centres that are free to increase their rates with the outcome of no net benefit for return to work parents.

And this is despite $150k being about the entry level affordability for most home mortages in major Australian cities and a necessity if you’re paying for child care (which remains ineligible as a tax deduction).

The irony is we are in the midst of the most acute skills shortage in our nation’s modern history.  So why penalize and introduce disincentives for parents returning to work.

The opinion of this sheEO is that – once again – there’s no good news for women leaders in this budget.  What’s your take on it?


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