Did you know? Childcare remains the second biggest expense after the mortgage for Australian families.
Leading business women and academics plan to advise the upcoming Tax Summit that childcare is the biggest and most directly related cost to earning income and should be eligible for a tax rebate.
Rosemary Howard, Executive Director and Conjoint Professor at AGSM said the cost of childcare is prohibitive and it affects not only low-income families but well-paid women in executive roles. “The lack of financial support for working families, in the form of childcare incentives, is an impediment to women’s participation in the workforce, particularly when it comes to advancing women into leadership roles and at board level,” she said.
Rosamund Christie, program director for the Women in Leadership program at AGSM agreed. Christie said “Tax-deductibility of childcare ought to be a right. Our economy depends on a fully functioning workforce and – however it gets that – it should be supported,.” she said.
Additionally, Judith MacCormick, a post-doctoral research fellow at the Australian School of Business, said that Australian is using an out-dated business structure, and this is the underlying roadblock toprohibiting governmental tax breaks.
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1 comment:
Childcare is a legitimate work expense. I know it would have helped me enormously if it were tax deductable, as it is in the US
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