Worth waiting to start a family for Abbott's Paid Parental Leave scheme?

goingDHfast on 05/03/2014 - 18:26

Hi All,

As the title suggests, we're planning to start trying for a baby this year. All else being equal we might aim to become pregnant around May-June meaning the baby would arrive around March 2015.

Given this is only 3 months before the start of the new financial year, is it worth waiting 3 months for an extra ~$50,000? Wife earns roughly 100k so we'd be eligible for $50k even if the cap goes through at $100k (not 150k as Abbott is pushing for).

Your thoughts & perspective greatly appreciated.

P.S. We are assuming that if/when the legislation passes it would only effect babies born after July 2015. Can anyone confirm this?

gdhf

General Discussion

Comments

  • Unorthodox on 05/03/2014 - 18:46

    How's her employer's offer on maternity leave + payment.

    You'll need to give the rate and the amount of time given (with pay).

    • goingDHfast on 05/03/2014 - 19:13

      It's a private employer so whatever is supplied by Fair Work Australia.
      They don't have any special offers or benefits as far as we're aware.

  • tonka on 05/03/2014 - 18:54
    +1

    Plus an extra 9 months childcare before they can start school.

    • goingDHfast on 05/03/2014 - 19:14

      Am I missing this from the details?
      Can you supply a link to this info anywhere as Mr Google couldn't find anything :-)

      • tonka on 05/03/2014 - 23:28
        +2

        There is a minimum age to start school.Depends what state you are in.
        To optimise in NSW you would want the Bday to be 31st July. The kid would be 4.5 starting school, if born 1st August they need to wait until the next year.

        VIC
        Children must be five by 30 April to begin the school year.
        ACT
        Children must be five by 30 April to begin the school year.
        NSW
        Children can begin compulsory Kindergarten at the beginning of the school year if they turn five on or before 31 July in that year. By law, all children must be enrolled in school by the time they turn six.
        NT
        School is compulsory from the age of six. Children can enter non-compulsory Transition at the start of the school year if they turn five by 30 June that year. To enter Year 1 (compulsory) children must turn six before 30 June in the year they are enrolled.
        QLD
        Queensland offers a year of Prep for children who turn five by 30 June in the year they are enrolled. Prep is not compulsory so compulsory schooling begins with Year 1 when children must be enrolled in the year they will turn six by 30 June.

        • goingDHfast on 06/03/2014 - 08:47

          Great points, thanks for pointing that out!
          If we do end up waiting we might try to aim to have the baby well into the second half of the year anyway (September - December).
          Lots to consider indeed.

        • tonka on 06/03/2014 - 16:22

          Better for the kid, summer birthdays are better. No-one shows to winter bdays, jumping castles suck on cold rainy days.

  • Ahan on 06/03/2014 - 16:42
    +1

    We are pretty much in the same situation expect for we are planning to have our 2nd child and my wife is earning a lot less :)
    She is currently looking for new jobs. If everything goes smoothly, she will get pregnant after she starts her new position for about 5 months. So when she starts taking leave, she would have worked for over 1 year and the baby will be born after July 2015…
    Problem is if Mr Abbott’s proposal will be approved? Quite a big “if” given the recent news release..

  • horsome on 07/03/2014 - 00:07
    +1

    http://www.businessspectator.com.au/news/2014/3/5/national-a…

    Looks like a goer if the libs have their way and i doubt it will be blocked as i reckon labor and greens will be for it.

    Currently it is not a requirement for all employers to offer a paid maternity scheme. However ones that do can offer up to 12 to 18 weeks which is less than the proposed scheme. Fairwork Act offers 2 years leave (unpaid) and can be used by either parent before coming back to your original job, there are clauses for adjusting the agreed amount of leave though.

    Its a no brainer for me, especially when you're talking 3 months. Would be nice to see the mechanics of how this works for say a part time worker going for 2nd plus child.

    • goingDHfast on 10/03/2014 - 20:47

      I agree it looks like a goer. Personally I think the greens will pressure them to drop the cap down to $100k but that will be fine for 90% of couples.

      So yes, we're currently planning to wait and get some practice in in the mean time ;-)
      Will be very interesting to see how they deal with part time workers and non 1st baby makers…

  • danyool on 07/03/2014 - 00:56

    is it worth waiting 3 months?

    No. start practicing now ;-)

  • voteoften on 11/03/2014 - 00:21

    How old are you. You wife's eggs have been in her body since she was in her mothers womb. Not everyone can get pregnant straight away. Consider the impact of waiting on fertility.

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