Posted by G. Dean McKinnon
on 17 November 2023
The federal government is proposing legislation that, if passed, will increase the Paid Parental Leave ('Leave') to 26 weeks by 2026:
- The proposal is to increase the current 20 weeks Leave (for children born or adopted after 1 July, 2023) by 2 week increments each Financial Year for the next 3 Years
- There is an eligibility criteria to receive the payment, including: Income Test | Work Test | Residency Rules
- Incorporating Leave payments into your Financial Plan may be critical to being able to meet a family expenditure budget
- If you require further assistance please don't hesitate to contact McKinnon Financial Planning (first appointment is free!)