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  1. #1
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    Default Child care rebate?

    Hello need a little advice my partner manages a farm and also self contracts out to other farms and so far his name has only been on the business but I do all the bookwork and gst so was considering putting my name down as well as 50/50 on the business. My son goes to preschool 3 days a week does that mean I could claim the 50 percent childcare rebate? And how would I have to go about proving my 15 hrs a week I work?

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    Does he go to daycare or kindy?? Just wondering because with a kindy like C&K and the likes you don't actually get CCB but the kindy gets a rebate from the government so makes your fees cheaper.

    I think just give centrelink a call and just explain to them you do all his books etc and what you have to do to prove your workload. You hubby might have to pay you and give you payslips which would suck because then you would get taxed on it.

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    If you do need to get a wage, your partner will receive tax deduction for it. If his income is higher (and in a higher marginal tax rate) as a couple you have a tax win because you have shifted income to a lower tax rate.

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    Default Child care rebate?

    Thanks guys, if my name is on our abn number though he shouldn't have to give me a wage as I'm part owner of the business then? Anyway hopefully I can speak to the accountant sometime soon and get it all sorted

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    The already existing ABN registration sounds like it is your partner's own name and you can't just add your name to it. A new business with it's own ABN would need to be set up. Anyway, talking to your accountant (who already knows your current setup) is the best way to go.

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    Sorry, missed your Q about being a part owner. If you are a partner in a business, your share of the income is included in your income tax return and wages do not need to be paid.

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    Quote Originally Posted by our3boys View Post
    Hello need a little advice my partner manages a farm and also self contracts out to other farms and so far his name has only been on the business but I do all the bookwork and gst so was considering putting my name down as well as 50/50 on the business. My son goes to preschool 3 days a week does that mean I could claim the 50 percent childcare rebate? And how would I have to go about proving my 15 hrs a week I work?
    Hi There,

    Id be seeing your accountant asap
    If its a P/L company DH is a Director? he could invite you to join as a fellow director and your accountant will allow you to draw a directors fee remember the money in the company is the companies and it has to account where it goes legally. As a co director you also have the responsibility if DH stuffs up
    What you earn would have to be reported to C/Link and this may vary the payments you receive from them, also remember C/Link and the tax office are joined at the hip Good Luck


 

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