+ Reply to Thread
Results 1 to 7 of 7
  1. #1
    Join Date
    Aug 2010
    Location
    Upper Coomera
    Posts
    766
    Thanks
    21
    Thanked
    25
    Reviews
    14
    Achievements:Topaz Star - 500 posts

    Default Childcare fees

    Just did an estimate of childcare fees for both kids starting childcare full time next year.

    A week of childcare based on $64000 income for both working parent is $535.00 and out of pocket for each child is $463.71 a week (daily fee is $107. That means 2 children of $927.42 a week will be $3709 a month for both children. At $64000k a year of wage, weekly take home pay before tax is $1230.

    So, all that earns will go to childcare. Really? I will only have $302 from work for working 5 days a week and that is even before tax and superannuation.

    Can someone enlighten me if that is the case?

  2. #2
    Join Date
    Aug 2010
    Posts
    6,872
    Thanks
    5,195
    Thanked
    3,896
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 posts
    .... I was rambling and none of it made sense. Sorry
    Last edited by Rose&Aurelia&Hannah; 01-11-2015 at 04:36.

  3. #3
    Join Date
    Feb 2009
    Location
    my house
    Posts
    17,713
    Thanks
    1,392
    Thanked
    7,298
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 postsEmerald Star - 10,000 postsRuby Star - 15,000 posts
    Is the $64k a combined income?

    If Childcare is $107 day for each child then full child care fees will be $1070 week. But with both parents working, you will get the 50% rebate which means you will be out of pocket $535 and the government will pay the rest. However, the government rebate cap is at $7500 so once they've paid $7500 for each child, you will be out of pocket.

    If your combined income is $64k then you will also be eligible for some child care benefit, which is a discount of your daily fees. Even if you both earn $64k you might be eligible for a small but of the benefit. Best to check the Centrelink website or call them for help.

  4. #4
    Join Date
    Feb 2014
    Posts
    3,199
    Thanks
    312
    Thanked
    960
    Reviews
    13
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 posts
    Quote Originally Posted by del79 View Post
    Just did an estimate of childcare fees for both kids starting childcare full time next year.

    A week of childcare based on $64000 income for both working parent is $535.00 and out of pocket for each child is $463.71 a week (daily fee is $107. That means 2 children of $927.42 a week will be $3709 a month for both children. At $64000k a year of wage, weekly take home pay before tax is $1230.

    So, all that earns will go to childcare. Really? I will only have $302 from work for working 5 days a week and that is even before tax and superannuation.

    Can someone enlighten me if that is the case?
    I did a rough cal too using the CL calculator. I did base on $32k ea.
    My calculations indicated that $21400 after rebatesImageUploadedByThe Bub Hub1446323346.205778.jpg ( image is before 15k is taken off). So that's just under $412pw.

    Side note Minimum wage combined is over 68k for 2 people working full time, so if earning less I assume 1 of the roles is part time.
    do they need to go ft ( 5 days a week) Even just reducing to 4 days a week will save just over another $200pw

  5. #5
    Join Date
    Apr 2011
    Location
    Sydney South
    Posts
    1,924
    Thanks
    1,233
    Thanked
    854
    Reviews
    10
    Achievements:Topaz Star - 500 posts
    Sorry if I'm reading it wrong but the estimator is only showing child care benefit... Isn't it then halved again for child care rebate?

  6. #6
    Join Date
    Feb 2014
    Posts
    3,199
    Thanks
    312
    Thanked
    960
    Reviews
    13
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 posts
    Quote Originally Posted by Meld85 View Post
    Sorry if I'm reading it wrong but the estimator is only showing child care benefit... Isn't it then halved again for child care rebate?
    In this case 15k then comes off my SS just couldn't fit it all in

  7. #7
    Join Date
    Sep 2009
    Posts
    4,672
    Thanks
    1,961
    Thanked
    2,573
    Reviews
    6
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 posts

    Default Childcare fees

    Word of warning - the percentage of child care benefit you get doesn't come off what you pay childcare. Centrelink in their wisdom (much like Medicare) have decided on an amount that they regard to be the cost of a full days care and they take the percentage off that. So say you pay $100 a day and are entitled to 50% rebate they don't give you back $50, they give you back half of what their figure might be (not sure what it is).

    ETA: just checked and this year the full CCB amount is $4.17 an hour. So for a centre open 10 hours a day the maximum daily benefit is $41.70. And a another thing, if you have a centre that is open 12 hours a day you effectively only get benefit on 4 days because you can only claim 50 hours a week. It goes on how many hours your child could have attended, not how many they actually did.
    Last edited by amyd; 01-11-2015 at 08:48.


 

Similar Threads

  1. Dr O'Rouke Canberra for IVF and fees
    By JennyW in forum IVF
    Replies: 1
    Last Post: 26-08-2015, 22:12
  2. How much are your PRIVATE school fees?
    By Ishtyban in forum General Chat
    Replies: 51
    Last Post: 21-11-2014, 16:53

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
free weekly newsletters | sign up now!
who are these people who write great posts? meet our hubbub authors!
Learn how you can contribute to the hubbub!

reviews
learn how you can become a reviewer!

competitions

forum - chatting now
christmas gift guidesee all Red Stocking
BAE The Label
Versatile, premium maternity wear that you will love throughout pregnancy and long after. Cleverly designed for for all stages of motherhood so that you can 'Just be you (+1)'.
sales & new stuffsee all
CarmelsBeautySecrets
Growing your own natural nails is easy. Years ago, I devised a simple and very effective technique which really helps boosts the nails' growth in as little as three days! And most importantly keeps them that way.
featured supporter
Einsteinz Music
Fun & interactive music classes!
Classes are taught by professional musicians! Children are taught the fundamentals of music: beat, pitch, rhythm and tempo through hands-on experience. Click for more details!!!
gotcha
X

Pregnant for the first-time?

Not sure where to start? We can help!

Our Insider Programs for pregnancy first-timers will lead you step-by-step through the 14 Pregnancy Must Dos!