The cost of raising a baby in the first year varies enormously based on your choices. Breastfeeding vs formula, cloth vs disposable nappies, and whether you use childcare are the biggest variables. Government payments like Parental Leave Pay and Family Tax Benefit can offset a significant portion of costs.
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This calculator uses current published rates from Australian government and regulator sources. The result is an estimate for general guidance — it does not constitute personal financial advice. For decisions about your circumstances, consult a registered financial adviser, tax agent, or other professional. See editorial standards for how DecisionLab sources and updates its calculator data.