CPI Adjustment for Determination DET 09/02: Standard-cost household service for childcare providers

In accordance with the provisions of Determination DET 09/02, as published in Tax Information Bulletin Volume 21, Number 4 (June 2009), Inland Revenue advises that, for the 2014 income year:

1. (a) The variable standard-cost component will increase from $3.37 per hour per child to $3.42 per hour per child; and
2. The administration and record keeping fixed standard-cost component will increase from $329 per annum to $334 per annum, for a full 52 weeks of childcare services provided.

The above amounts have been adjusted in accordance with the annual movement of the Consumers Price Index for the twelve months to March 2014, which showed an increase of 1.5%. For childcare providers who have a standard 31 March balance date, the new amounts apply for the period from 1 April 2013 to 31 March 2014.