Family Assistance Legislation Amendment (Child Care Financial Viability) Act 2011 (120 of 2011)

Schedule 1  

A New Tax System (Family Assistance) (Administration) Act 1999

5   Subsection 3(1)

Insert:

large long day care centre operator , in relation to a financial year, means:

(a) a person who operates, or proposes to operate, 25 or more approved centre based long day care services at any time during the financial year; or

(b) 2 or more persons who, between them, operate, or propose to operate, 25 or more approved centre based long day care services during the financial year, so long as any of the following apply:

(i) one person has, at any time during the financial year, 25% or more of their executive officers in common with another person;

(ii) one person owns, at any time during the financial year, 15% or more of another person;

(iii) one person is entitled to receive, at any time during the financial year, 15% or more of the dividends paid by another person.

Note: See also subsection (4B).