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Child Care Centre
We can help you to in doing DD when purchasing a childcare centre.
Also, keep your business is operating inside the benchmarks. Otherwise, you may move to a higher audit risk. If the business attracts the ATO’s attention, you need to:
- check that income and deductions for the business have been correctly recorded and reported,
- and review your record-keeping practices to ensure you meet the legal requirements.
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Childcare services are GST free if falls in any of the three categories below:
- Section 38-140 GST Act states that a supply of childcare by a registered carer (within the meaning of section 3 of the A New Tax System (Family Assistance) (Administration) Act 1999)
- Section 38-145 states that a supply of childcare by an approved childcare service (within the meaning of section 3 of the A New Tax System (Family Assistance) (Administration) Act 1999) is GST-free.
- Section 38-150 states that a supply of child care is GST-free if it is made by a supplier that is eligible for funding from the Commonwealth under the guidelines made by the Child Care Minister that relate to the funding of:
- Family day care;
- Occasional care;
- Outside hours school care; or
- Vacation care.
Did you know ...
- We can connect you to our clients who are looking to sell
- Your rent should be under 15% of overall fee income
- We can help
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— Margaret Mead, cultural anthropologist
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Think about your goals and what you really need.
Stick to your plan but don’t be stubbon. Do it right.
Review your plan, review the situation and adjust them accordingly.