Family Assistance Legislation Amendment (Cheaper Child Care) Act 2022 (66 of 2022)
Schedule 1 Child care subsidy rates
Part 1 Main amendments
A New Tax System (Family Assistance) Act 1999
17 Subclauses 3A(2) to (5) of Schedule 2
Repeal the subclauses, substitute:
(2) If the individual's applicable percentage for the session of care would be a higher percentage if it were determined in accordance with clause 3 than the percentage determined in accordance with this clause, the individual's applicable percentage for the session of care is that percentage determined in accordance with clause 3.
What is the applicable percentage?
(3) If this clause applies in relation to the individual for the session of care, the individual's applicable percentage for the session of care is determined by the following table.
|
Applicable percentage |
||
|---|---|---|
|
Item |
If the individual's adjusted taxable income for the income year in which the CCS fortnight starts is: |
Then the applicable percentage for the individual is: |
|
1 |
equal to or below the lower income (other rate) threshold |
95% |
|
2 |
above the lower income (other rate) threshold and below the second income (other rate) threshold |
see subclause (4) |
|
3 |
equal to or above the second income (other rate) threshold and below the third income (other rate) threshold |
80% |
|
4 |
equal to or above the third income (other rate) threshold and below the fourth income (other rate) threshold |
see subclause (5) |
|
5 |
equal to or above the fourth income (other rate) threshold and below the upper income (other rate) threshold |
50% |
(4) If table item 2 applies, the individual's applicable percentage for the session of care is the lesser of:
(a) 95%; and
(b) the percentage worked out using the following formula and rounding the result to 2 decimal places:
(5) If table item 4 applies, the individual's applicable percentage for the session of care is the percentage worked out using the following formula and rounding the result to 2 decimal places:
(6) In this Act:
fourth income (other rate) threshold means the lower income (other rate) threshold plus $274,290.
lower income (other rate) threshold means $72,466.
Note: This amount is indexed annually in line with CPI increases (see Schedule 4).
second income (other rate) threshold means the lower income (other rate) threshold plus $105,000.
third income (other rate) threshold means the lower income (other rate) threshold plus $184,290.
upper income (other rate) threshold means the lower income (other rate) threshold plus $284,290.
Copyright notice
© Australian Taxation Office for the Commonwealth of Australia
You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).
