From 1 July 2008, the Child Care Tax Rebate (CCTR) will increase from 30% to 50%. Currently this payment is made annually through Centrelink to cover out-of-pocket childcare expenses.
The maximum value of the claim will increase from $4,354 per child to $7,500 per child per year.
The payment frequency of the CCTR is set to change also and will be made quarterly to help with the expense as it is incurred.
Article by Christie Lewis
Christie is Practice Manager at Alan Lewis Accountants . Besides accounting, her passion is for all things small business (and blogging, of course). You can contact Christie directly at christie@lewistaxation.com.au.
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