I know this is already in here somewhere, but I am stuck for time trying to search for it.

Does anyone know the formula to calculate your childcare benefit??

thanks Tara

I know this doesnt help you at the moment.

But the government is working on an estimate calculator which you will be able to access online and calculate your gap fee based on CCB percantage and daily fee of the centre.

Sorry i dont know the formula/calculations but it would be good when this website.estimate cames together.

The basic formula for the daily fee reduction is $3.47 x number of hours in care x your CCB%. Number of hours in care = the number of hours the centre is open.

If the care is part-time there is also a part-time percentage applied of up to 110%.

For Family Daycare, there is an extra benefit - multiply everything by 1.33.

Good to hear there will be an online calculator one day!

HTH,
Jo

The calculation of CCB % and CCB is quite complex. I have developed a free calculator. Anyone interested, please download it from

http://www.investmentpropertycalculator.co...calculator.html

cheers.

Sorry I think there was a problem yesterday with the download. Fixed it now. also updated the calculator to show CCB, CCR, total child care fees, and fees you actually pay.

IPC, I plugged in my details and it indicated that I'm entitled to a child care benefit but on my docs from the FAO it says I am entitled to 0% CCB. Anyone have any ideas why?

I did several tests by using the same examples from government websites and the calculator works 100% accurate.

If you don't mind share some of your data here, i might be able to find out why.

BTW, are you sure it is a CCB, or CCR? they are different. even your CCB is 0%, you can still get CCR.

Cheers.

Currently from the FAO I get CCR but am only entitled to 0% CCB. I am a single parent with one child in long day care. I pay $470 per week for DC. My current income is $48 000.

When i plug my details into your calculator it indicates that i am entitled to 89.27% CCB?. Can you think of any reason for the difference. Are there other factors i have missed?

harpersmum have you elected to received zero % because you should be entitled to CCB?
Ring 136150 and they can change you over to receive your entitlement

Based on the information you provided, i believe you should be able to get CCB.

Two possible reasons:

1. your previous year income is too high so FAO accessed you as 0% for CCB. if it is this case, you need to update FAO about your new income.

2. you don't meet residency requirements?

I cannot think anything else. Maybe other members can share some thoughts?

Cheers.

Just wonder if anyone is receiving CCB can let me know if the calculator works as i am not eligible for CCB? as a new parent, i really hope this one can help the parents here to manage their money.

Thanks.

Thanks for your info ladies i will call FAO as I didn't earn that much last year and i do meet residency requirements and i definitely didn't elect to receive zero%. Will let you know how I get on.

Just wonder if you have any good news from FAO? Please do let us know.

Thanks.

Just called the FAO and had my CCB adjusted. For some reason I had been entered as having requested to be assessed at the end of each financial year rather than having reduced fees. Do you think a single parent would pick that option?!! Anyway its now all fixed up and I should get a nice payout at the end of the tax year.

Thanks for your help everyone and IPC2009 your calculator is working perfectly

Thank you for letting me know that the calculator works. I am glad to know that the problem with your CCB was fixed.

Cheers.

not sure I'm understanding the calculator correctly. if I enter our current details it gives the correct percentage but the wrong amount, it says that we would pay $73.24 per week (he goes 2 days per week, so I put that in at 20 hours as our CCC does not offer half days, they always charge for a full day), we actually pay just under $70 per fortnight, so this is less than half what the calculator says. So now I'm sceptical on taking it's information and working it into our budget with our new circumstances. Any ideas?? What am I doing wrong?

Sorry. Sorry.

My stooooooooopid baby mush brain just worked it out. Obviously that's not how much I pay, it's how much I get back. How would the spreadsheet know how much my daycare charges, lol. Oh, dear me. That was a big baby brain moment wasn't it

Thanks, it's great!!

Glad to know that the CCB % is calculated correctly. I have changed the calculator a bit so that mums will not get confused anymore. The new one shows details CCB, CCR, fees, etc for individual children also includes yearly and weekly figures.

Cheers.



Thanks. Please spread the words and let the other mums know this handy calculator.

Cheers.

We had our tax done today so finding this calculator is timely. Our accountant said we should have another look at our entitlements.

So, I plugged in our details and the calculator comes up with a CCB of 15.09%, which we have not been receiving (we have been on 0%).

What is my next step? Calling the FTO? Or, will they pick up the error once our tax claim is lodged with the ATO?

Thanks in anticipation!

I think you better give FAO a call. It is your money so you should be proactive. I am not getting CCB so really have no idea but I believe other mums & dads should be able to give you some better advices.

Wish you sort it out soon!

ipc2009: your calculator works really well thank you! just wondering though, on family assist website it says that for having 2 children i am entitled to a max of 3.76/hr not the 3.60/hr that is default in your calculator, - i know it's not a huge difference in the calculations, but wondering if there's any way i can manually change this rate on the calculator to get a more accurate figure? i tried to unprotect the sheet but it won't let me do it without a password

The hour rate at the up-right hand corner is the standard rate and your rate may be different from that. For your rate, you should check the Hourly Rate under each individual children.

Cheers.

Thanks for your response. Hmmm not quite sure I understand your answer, but maybe I didn't word my question very well. Is there anyway I can change the standard 3.60 to 3.76 on your spreadsheet so that I can calculate my correct costs? The maximum rate of CCB per hour for 1 child is 3.60, but for 2 children the max rate of CCB is 3.76/hr, and then the appropriate CCB% is applied to that based on income testing. I have worked out my costs manually, but would be great to run a few scenarios through your spreadsheet if I could adjust the rate.

When the calculator calculates your CCB, it will automatically adjust the hour rate. If you check the hourly rate under "Child in Care 1", you will find it is different from the standard rate $3.6. Also, I believe the costs you work out manually should be as same as what is shown in the up-right hand corner, namely, "Child Care Benefit $".

Cheers.

Thanks for another quick response

Yes I totally understand what you mean about the rate under "child care 1" being different than 3.60, because it has been calculated as an appropriate percentage of 3.60 depending on the individuals income etc. What I am saying is that the 3.60 starting point should actually be 3.76 when they are 2 children, 3.91 for 3 children etc etc, then the percentage be applied to that. For example, if your CCB% was 88.45, your spreadsheet calculates the CCB on a rate of 3.18 for Child in Care 1 & 2 etc, but this should be 3.33 iykwim? So you and I actually get different figures when I work it out manually, I should be paying less than what your spreadsheet says. I'll give you a link to the FAO so that you know what I am referring to:

CCB Payment Rates

Anyway, it's no big deal, just was wondering if there was a way to modify the spreadsheet, but no problem Thanks again.

The CCB % 88.45 already factored in the multiple children loading. Otherwise, if you use the 3.76 hourly rate, your CCB% should be lower than 88.45%.

I hope this can help.

Cheers.

Oh ok this totally makes sense! I got this % figure as a result from doing the Family Assistance Online Calculator (amongst other %'s when I put thru multiple scenarios i.e. different incomes), so if you've got the loading built into your %, then the % on their calculator must also have that loading built in.
Thanks!

No problems. The CCB% you got from FAO does factor in the multiple children and part-time loadings etc.

Cheers.