So, I'm leaving this incredibly late. DD starts daycare on Tuesday and I thought I'd registered for CCB but apparently not. Now I'm being asked if I want it as reduced fees or a lump sum.
On the one hand, paying less cash each week would be nice, but on the other hand we can probably afford more each week and we probably wouldn't notice the saving much. A lump sum would be a more noticeable benefit y'know?
What do you do and why?
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Actually I don't know about this anymore. I decided to register for a lump sum payment and it told me if we have our CRNs we don't need to register for it. Does the daycare centre handle it for us? I've given them our CRNs.
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I decided to take it as a reduced amount to our fees, that way less upfront
Regardless of whether you opt for reduced fees or a lump sum at tax time, you still need to register your child with the FAO - they need to be assessed for CCB. You can tell them you want to receive no benefit and it will come up as 0% CCB with the centre. If you don't have them assessed, you won't get CCR either.:
Yeah that:
We take the lump sum each quarter. We are hopeless at saving, so this is a forced savings account..
Thanks ausgirl & BG. All three of us are registered with fao, and I went ahead with registering online for CCB anyway just to be safe.
Decided to go with the lump sum seeing as we budgeted to pay the full amount anyway and extra cash at tax time can be put towards something decent :)
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I went with reduced fees. Used to receive it quarterly before the reduced fee option, but found it just went on bills any way when it did come through. So far this year I find it is working very well for us.
We went with lump sum. Rego is due late July so the extra money will come in handy :)
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we get the lump sum