Components of The Package
The scheme pays "Working for Families Tax Credits" (formerly known as Family Assistance) to families with dependent children to help with the cost of raising a family. Dependent children are defined as aged 18 or under who are not in full-time employment. The Working for Family tax credits include four types of payments:
- Family tax credit: provides ongoing support for beneficiary and working families with dependent children
- In-work tax credit: available to working families only, who meet the minimum number of hours worked per week
- Minimum family tax credit: paid to working families to ensure they earn a minimum annual income after tax
- Parental tax credit: paid for the first eight weeks after birth to assist with the costs of a new baby
The Working for Families package also included additional help with childcare and accommodation, with increases in amounts of the existing Accommodation Supplement and the existing Childcare Assistance.
Read more about this topic: Working For Families
Famous quotes containing the words components of and/or components:
“Hence, a generative grammar must be a system of rules that can iterate to generate an indefinitely large number of structures. This system of rules can be analyzed into the three major components of a generative grammar: the syntactic, phonological, and semantic components.”
—Noam Chomsky (b. 1928)
“Hence, a generative grammar must be a system of rules that can iterate to generate an indefinitely large number of structures. This system of rules can be analyzed into the three major components of a generative grammar: the syntactic, phonological, and semantic components.”
—Noam Chomsky (b. 1928)