Lowering company rate
In its Budget reply speech, Labor has earmarked changes to the childcare subsidy should it win the next election which could occur as early as late 2021. As a part of its plan to get the economy back on track and women working more hours, Labor has proposed the removal of the annual cap of $10,560 (per child) on the childcare subsidy from 1 July 2022 and an increase in the maximum childcare subsidy to 90% from 85%. It will also investigate the feasibility of moving to a 90% subsidy for childcare “for every Australian family”.
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