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In August, Parliament passed changes aimed at cutting child care costs. These changes have been brought forward, initially taking effect in July 2022. The child care subsidy is a federal government’s primary program that assists families with the cost of child care.
What are the changes?
From 10 December 2021, the current annual cap on couples earning more than $190,015 per annum will be removed.
Families who have two or more children in care under six years of age will be eligible to receive an additional 30 per cent on top of the existing subsidy.
An example could be that you have your first child in child care and you receive a 50 per cent subsidy rate; if you have a second child who also attends child care, you will be eligible for 80 per cent. However, the subsidy will cap at a maximum of 95 per cent.
The increased subsidy comes into effect on 7 March 2022.
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Disclaimer
The information provided in this article does not constitute advice. The information is of a general nature only and does not take into account your individual situation. It should not be used, relied upon, or treated as a substitute for specific professional advice. We recommend that you contact Brentnalls SA before making any decision to discuss your particular requirements or circumstances.
