The Rudd Government will invest $3.9 billion to provide immediate financial support to help around two million Australian families.
This decisive action is part of the Rudd Government's $10.4 billion Economic Security Strategy to strengthen the Australian economy and support families during the global financial crisis.
The support will be delivered to families through a one-off payment of $1,000 for each eligible child in their care.
Those who will receive the support include:
* 1.9 million families who receive Family Tax Benefit (A); and
* Families of another 220,000 dependent children who receive Youth Allowance, Abstudy or a benefit from the Veterans Children's Education Scheme payment.
In all, around 3.9 million children will benefit from the $1,000 one off payment.
The global financial crisis is placing increasing pressure on family budgets already stretched by the rising cost of living.
The Rudd Government is taking decisive action to strengthen the Australian economy.
Lower and middle income working families are the driving force of the Australian economy.
It is vital that in times of global financial crisis these Australians have our support.
Most families will receive their full payment automatically in the fortnight beginning 8 December 2008 on each family's regular family tax benefit payment day. These payments will be completed by 19 December.
Families who receive their family payments as a lump sum at the end of the financial year will receive their additional payment when they make their claim.
Payments will be tax exempt and not included for income-testing purposes.