increase child care tax rebate just announced

ABC Learning (ABS)

From Sydney Morning Hearld Saturday. 26/4/08

You would think that his is.... not.... going to hurt ABC Learning's (ABS) Share price tomorrow.


Expected tax breaks for working mothers in next month's federal budget should be made available as widely as possible, a family welfare lobby group says.
Families Australia chief executive Brian Babington welcomed comments by Treasurer Wayne Swan that mothers who work to help pay off mortgages and cover household bills will be $3,600 to $7,000 a year better off from the two new budget measures today . (Sydney Morning Herald. Saturday. 26th April. 2008).
The measures are the basis of the government's plan to spare working families further pain amid the fight against inflation.
"It seems like really good news for families, particularly working mums," Mr Babington told Sky News on Saturday.
"Anything that the government can do to strengthen the families is really good news, particularly in this area where we may be able to offer tax cuts and increase the availability of childcare as well." ….
Labor went into the election promising to raise the childcare rebate from 30 to 50 per cent and to index the childcare benefit.
Mr Swan said Treasury modelling showed the changes would cut the cost of childcare by $95 per week for mums working five days a week and $29 for those working two days per week.
The heftier rebate, combined with promised tax cuts, should leave those families much better off, the treasurer said.
"This tax and childcare relief will be of significant benefit to working mums who will receive a significant increase in take-home pay," Mr Swan said.
"If you're a working mum with two children in childcare working two days per week there could be relief up to $71 per week, and if you're a mum working five days per week with two children in childcare relief up to $136 per week."

Regards,

Robbo.