The 2011-12 Federal Budget will help Australian families with the cost of living. Measures include:

For families: An increase in Family Tax Benefit (A) for 16-19 year olds, with around 650,000 families receiving up to an extra $4,200 a year for each eligible teenager that stays in school.

For workers: Ongoing income bonuses for apprentices that stick with their training. More than 34,000 apprentices have already received the bonus for meeting training milestones in trades including building, plumbing, electrical work and graphic design. Bring-forward tax offsets for low-paid workers, so a greater proportion appears in pay packets instead of annual tax returns. For a worker on $30,000 this means an increase of $300 a year in their regular pay.

For small business: A 100% write-off of business assets worth less than $5,000. A 30% percent write-off for other depreciating assets except buildings; and A company tax cut to 29 percent, for incorporated small businesses.