Payment rates for the Family Tax Benefit will remain at current levels until July 2016.
But from 2015 the Abbott government wants families booted off part B when their youngest turns six years old, saving $1.9 billion over five years.
Families with a youngest child aged six and over now will continue receiving the payment until June 30, 2017.
Form mid-2015 there will be a new part B income test of $100,000, down from $150,000.
The measure will save $1.2 billion over four years.
The part A income threshold will be set at $94,316.
There will be a part A end-of-year $600 supplement and $300 for those eligible for part B.
From July 2015 the government is tightening the eligibility for the big families supplement worth $313.90 for each child.
Only families with four or more children will receive the supplement saving the government $377.7 million over four years.
There's some good news for single mothers hit by welfare cuts under the previous Labor government.
Tens of thousands of single mothers were left $60 to $100 worse off a week when they were pushed off parenting payments and onto the Newstart Allowance.
The Abbott government will deliver some relief with a new supplement for low-income single parents worth $155 million over four years.
From July 1, 2015 single parents receiving the maximum rate of Family Tax Benefit part A will receive an extra $750 for each child aged between six and 12, once their youngest turns six.
Labor's school kids bonus, worth $410 a year for primary school pupils and $820 a year for high school students, is for the chopping block.
The payment was linked to the minerals resource rent tax which the Abbott government wants to abolish.
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