CANBERRA, March 4 (Xinhua) -- The opposition Australian Labor Party (ALP) has announced 60 million Australian dollars (42.49 million U.S. dollars) in funding to help victims of domestic abuse rebuild their lives.

ALP leader Bill Shorten made the announcement on Monday, saying the money would fund 20,000 "flexible support packages" to help women fleeing an abusive relationship pay rent and buy furniture.

The money will come from Labor's proposed banking fairness fund, a levy it plans to impose on major banks and financial institutions to fund community improvement schemes.

"We need to invest in more support for women fleeing violence at home, so that financial barriers aren't the reason victims are trapped in a violent relationship," Shorten said in a statement on Monday.

"Instead of asking, 'why did she stay?' we need to ask 'where could she go?'

"These packages are about helping people keep their life together in the most difficult of circumstances, keeping the kids in the school they know, keeping the family doctor, being able to work and study. Dealing with violence is hard enough without the real fear that every other part of your life will fall apart too."

According to the Australian Institute of Health and Welfare (AIHW), one in five Australian women have been sexually assaulted and/or threatened since age 15.

Intimate partner violence causes more illness, disability and deaths than any other risk factor for women aged between 25 and 44, according to AIHW.