Summary
Amends the: A New Tax System (Family Assistance) Act 1999, A New Tax System (Family Assistance) (Administration) Act 1999, Social Security Act 1991, Social Security (Administration) Act 1999 and Veterans’ Entitlements Act 1986 to: provide for the schoolkids bonus ($410 per child in primary school and $820 per child in high school) to be paid in January and July each year from 2013; remove the Education Tax Refund (ETR) from the 2011-12 financial year; and provide for a one-off transitional lump sum ETR payment ($409 per child in primary school and $818 per child in high school) in June 2012; and Income Tax Assessment Act 1997 to make consequential amendments.