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    Default New Budget

    Quote Originally Posted by Molros View Post
    I'm a bit muddled if someone can please help me.....if DF and I both work FT (40hrs per week Monday to Friday) and DD goes to daycare 4 days a week (at a cost of either $440 or $480 a wk), if we earn between 65k and 185k we get 50% back, is that right? Or 170k i saw somewhere? Is that based on your taxable income, so after your tax return has been filed or gross income before any tax deductions have been done?
    TIA
    If you earn between $65-185k you will get 50% rebate uncapped (so there is no upper limit or $7,500 anymore) - that is based on your gross income.

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  3. #222
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    Quote Originally Posted by Molros View Post
    I'm a bit muddled if someone can please help me.....if DF and I both work FT (40hrs per week Monday to Friday) and DD goes to daycare 4 days a week (at a cost of either $440 or $480 a wk), if we earn between 65k and 185k we get 50% back, is that right? Or 170k i saw somewhere? Is that based on your taxable income, so after your tax return has been filed or gross income before any tax deductions have been done?
    TIA
    From what I understand, those earning between $185k-$65k will be on a sliding scale of the benefit. the 65k end will get 85% ... and it reduces as the family income rises.

    the example I looked at said 50% for $170k - but its early days and the actual scale hasnt been published as far as I know.

    Remembering that the CCR was 50% but those who got CCB as well already received substantial coverage of the costs (though capped). Depending on exactly what they set the benchmark as will depend on whether it ends up being more or less for many of those families

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    Quote Originally Posted by BH-KatiesMum View Post
    yeah I am not sure. I would hope that study is included.

    I also wonder about those looking for work ... its hard to get a job if you cannot attend an interview
    It was included in productivity commission report but not mentioned in the govt statement. Hopefully an oversight? Not heard any comments in any news reports. Looking for work is so hard anyway as most people need line up cc first as who can find a place in a month or so once a job is secured? I have a horrible feeling this govt is scrapping all help unless you are already in a job which completely makes no sense if they want us all back to work!

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    This made it a bit clearer for me:

    http://m.perthnow.com.au/news/the-15...edium=Facebook

    Of course these are only proposals, so it may end up being different..

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    And this is interesting too. Policy that doesn't even accord with established Liberal values: http://mobile.news.com.au/finance/ec...-1227350205908

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    Quote Originally Posted by ExcuseMyFrench View Post
    @Renn have you seen the infography I posted higher in this thread?
    Yes, I have. I was referring to that - it's extremely misleading.

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    Quote Originally Posted by ExcuseMyFrench View Post
    @Renn have you seen the infography I posted higher in this thread?
    My understanding is that other countries tax at the full amount of pay - so 40% tax on say the full 150k. Australia only taxes on a the proportion of your wage that falls into that tax bracket. So you might find yourself 20k into that bracket so you only pay 40% on 20k. Someone correct me if I'm wrong though.
    Last edited by delirium; 11-05-2015 at 14:28.

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    Quote Originally Posted by delirium View Post
    My understanding is that other countries tax at the full amount of pay - so 40% tax on say the full 150k. Australia only taxes on a the proportion of your wage that falls into that tax bracket. So you might find yourself 20k into that bracket so you only pay 40% on 20k. Someone correct me if I'm wrong though.
    sorry that's incorrect, it's the same system than here.
    Also what you have to keep in mind is that most OECD countries includes key taxes in their rates that Australia exclude.
    Namely super and health insurance. When you adjust for this and compare to other OECD countries, Australia is in the highest taxed country.

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    Quote Originally Posted by ScubaGal View Post
    That article sums up what so many Mums will be thinking!

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