The latest report from the National Centre for Social and Economic Modelling (NATSEM) shows raising two children for middle-income families now costs A$812,000.
The cost, the researchers say, comes down to personal choice at times, including factoring an assumption that parents paid for their children’s University fees in full.
Whilst low-income families pay less, this is aided by government benefits and family tax breaks.
Read more at University of Canberra