QUOTE (charlottesmum04 @ 07/02/2013, 09:34 PM)
full fees - CCB = eligible CCR component
50% of this amount ( up to $7500) = CCR
What is left is what you owe child care centre.
This is right.
So by getting zero CCB all year but receiving CCR your out of pocket will have been calculated as higher than it actually was in the first three quarters if you ACTUALLY have an entitlement to CCB and claim it.
Here's an example (figures plucked from nowhere):
You pay $100.00 per week child care based on CCB rate of 0% ($5200).
At the end of each quarter you get $50 per week back as CCR (13 weeks would be $650 CCR paid to you).
So for the first three quarters you have received $1950 CCR.
So you lodge your tax return and because your CCB is current with Centrelink but set to zero by you (for assessment at end of financial year) and they work out you would have been entitled to $25.00 per week CCB.
So you get a lump sum of $1300 for your CCB entitlement for the whole year.
This makes your out of pocket expenses for the year $3900 ($5200 fees for the year less $1300 CCB you just got as a lump sum).
So your CCR entitlement is half of your out of pocket expense ($3900/2 = $1950).
So you get no CCR for Qtr 4 because you already received $1950 in the first three quarters.
In my example you come out even but it can work out that you end up getting more CCR in the first three quarters than you were entitled to for the year so they take that excess out of your CCB lump sum and pay you the difference.
How you claim the CCB depends on why you are not getting CCB through the year:
- Is your CCB cancelled (if so you would have to lodge a lump sum claim); or
- is your CCB current but you have elected to receive nothing in the year and be assessed at the end of the financial year - in this case you don't have to do anything, Centrelink will calculate your CCB entitlement as part of reconciliation.
Hope that helps, I know it is long.