Previous research has found that parental socioeconomic disadvantage is a risk factor for mental health problems among children. Using data from the Longitudinal Study of Australian Children (LSAC), this article examines the effect of various socioeconomic status indicators on predicting mental health problems in preschool children aged 4 to 5 years old. The relative strength of family income, family structure, parental employment, and parental education are compared against parent and teacher reported levels of emotional problems, conduct problems, hyperactivity, and peer-relationship problems. This article discusses the findings.