Did You Know?
The Baby Bonus comprises a cash gift (payable in five installments over 18 months into an account specified by parents) and co-savings component, where the government will match dollar-for-dollar the amount of savings parents contribute to the child’s Child Development Account (CDA) up to a specified ceiling based on child order.
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The CDA savings may be used to pay for fees at Baby Bonus Approved Institutions (AIs), click here for a list of AIs.
Information above is correct as of January 2018.