2008 CPI Adjustment Standard-cost household service for boarding service providers 08/02 (March 08)

In accordance with the provisions of Determination DET-05/03, as published in Tax Information Bulletin Vol 17, No 10 (December 2005), Inland Revenue advises that the weekly standard-cost component for the 2008 income year, is retrospectively adjusted as follows:

1. The weekly standard-cost for one to two boarders will increase from $213 each to $220 each.
2. The weekly standard-cost for third and subsequent number of boarders will increase from $173 each to $179 each.

The above amounts have been adjusted in accordance with the annual movement of the All Groups Consumers Price Index for the twelve months to March 2008, which showed an increase of 3.4%. For boarding service providers who have a standard 31 March balance date, the new amounts apply for the period from 1 April 2007 to 31 March 2008.