In accordance with the provisions of Determination
DET-001, as published in Tax Information Bulletin, Vol. 16, No. 4, May 2004, Inland Revenue advises that, for the 2007 income year:
(a) the variable standard-cost component has increased from $2.83 to $2.90 per hour per child; and
(b) the administration and record keeping fixed standard-cost component has increased from $276.00 to $283.00 per annum, for a full 52
weeks of childcare services provided.
The above amounts have been adjusted in accordance with the annual movement of the All Groups Consumers Price Index for the 12 months to March 2007, which showed an increase of 2.5 percent.
For childcare providers who have a standard 31 March balance date, the new amounts apply for the period from
1 April 2006 to 31 March 2007.
Please note that future CPI adjustments for Determination DET-001 will be published in the Tax Information Bulletin and on the Inland Revenue website www.ird.govt.nz only.