Explanatory Memorandum
(Circulated by authority of the Minister for School Education, Early Childhood and Youth, the Honourable Peter Garrett MP)Financial Impact
The total appropriation for the Act in 2013 is included in forward estimates and there is therefore no financial impact.
The Bill provides for the appropriation of $133.5 million for non-ABSTUDY payments over 2013. This funding amount also includes adjustments to appropriations made as a result of previous decisions of Government, including in relation to the new Federal Financial Arrangements Framework. In accordance with the Government's policy, the legislated figure will be adjusted for price movements. The Bill also provides $25.5 million for ABSTUDY Away From Base payments. The total appropriation for both components is $159 million in 2013.
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