Child Care Subsidy Calculator – Help With Your Family

If you have at least one child care aged child, you may want to learn how a child care subsidy calculator can help you. Everyone needs a helping hand at specific points in life. If you are struggling to juggle money management with young children, a child care subsidy may be able to help lift some of your burdens.

So, if you are eligible for a child care subsidy, you will likely want to calculate exactly how much you are entitled to. This is where a child care subsidy calculator might help. But where else can you find extra help? Join Monzi to discuss how to get the funds to help via grants, no credit check loans, and loans for people on Centrelink.

Please note that specific ideas and products presented in this article may not be on offer by Monzi or the lenders we work with. This article presents only general information. Consider seeking professional financial, taxation, legal or other advice to check how the information and ideas presented on this website relate to your unique circumstances.

What is a child care subsidy?

An Australian child care subsidy is a helping hand in the form of government payments that cover your child care costs. This subsidy is paid directly to your child’s daycare provider, meaning that whilst you won’t ever see the money enter your account, you will have reduced bills to pay.

There are eligibility criteria that you will need to meet to qualify for such a payment. Generally, if you earn over a certain amount annually, you won’t be eligible for this subsidy. This is as these payments are designed to help low-income households, single parents, grandparents and carers. The child care subsidy is unlikely to cover the cost of your child’s care fees completely. This is as families are required to make co-contribution payments.

Determining how much your family is entitled to with this subsidy is important when budgeting for your child’s daycare. Thereby it may be worthwhile to use a child care subsidy calculator to see what you can claim.

Why might you need a child care subsidy?

No two people are the same, just as no two families are the same. Therefore motivations for requiring a child care subsidy may vary. However, generally, your family unit is composed of one parent who needs to work and can’t take care of the child/ren. Or, your family unit has two parents, but your combined income isn’t enough for one parent to stay home.

Not only this, but in some instances, a foster family may attain these subsidies. Or, if you are the guardian for your nieces or nephews, you may also be able to claim. Family units are unique across the board. The underlying notion here is that no matter what sort of family you are if you need help you may be able to utilise a child care subsidy.

How is child care subsidy calculated?

To calculate whether you are eligible for a child care subsidy, you may need to provide a lot of financial information. Some of the information you will need includes:

  • The hours of recognised work you do
  • How many of your children are going to daycare
  • Your family’s taxable income
  • The details of the child you are enrolling.
  • The details of your chosen daycare provider (their address and fees)

It may be difficult to gather all this information and accurately calculate what you can claim independently. There are several government-provided criteria that you can compare your income alongside. However, you could fail to factor in specific details. This is where a child care subsidy calculator can be pretty helpful.

What is a child care subsidy calculator?

A child care subsidy calculator helps combine all the above information alongside government guidelines to estimate what you may be able to claim. Your family’s income, the hourly rate cap for the child care, and the hours of activity you and your partner do are significant factors.

So, when you want a reasonably accurate estimate of what portion of fortnightly subsidised care you can access, a calculator may help. These calculators work by simply adding and subtracting from the total subsidy you can access, based on the information you provide. It’s hard to identify what you can subsidise independently; not only can your income affect it, but so can the type of child care you use and you and your partner’s activity levels.

These ‘recognised activities’ can be anything from paid work for an employer or being self-employed, to unpaid work experience or study, or volunteer work. There are so many additional criteria that you may almost require someone at Centrelink to tell you what you can access outrightly. Therefore, using a calculator may better help you budget with the aid of this potential subsidy.

Where to find this kind of calculator?

When locating a calculator of this kind, your best bet is an online child care subsidy calculator. You can access several online calculators in this day and age of the internet. Some examples of other calculators that you may be able to utilise include:

All these options help you identify what sum you can access and help you determine how you can budget them. The child care subsidy calculator is not different from any other online calculator. When you need help lifting the load and don’t want to take cash loans or a new job, why not see if you are eligible for a child care subsidy.

Child care subsidy hours

Child care subsidy isn’t simply for daycare aged children. You may be able to get some child care subsidy (CCS) if you care for a child that is 13 or younger and not attending secondary school. There are some exemptions to this rule. You also must use an approved child care provider, be responsible for paying the fees, and meet the residency and immunisation requirements.

However, you may only be able to subsidise a maximum amount of hours per fortnight. The average is likely to be 100 hours per fortnight; however, this may vary based on what you can claim. A child care subsidy calculator may help you work this out. If your paid work hours change fortnightly, you may have the option to estimate this every three months.

Can a child care subsidy fund 100% of the costs?

No, it is improbable that you will be able to subsidise 100% of your child’s daycare fees. However, depending on your income and activity, you may be able to get up to 80-95%. Keep in mind that this payment is a co-contribution. Meaning that both you and the government should be covering a portion of the fees each.

Generally, however, you may only be able to access 36 subsidised child care hours per fortnight, per child. This means that if you are a full-time worker, you will likely need to look elsewhere for extra help with covering childcare. Whether this is help from a family member or small loans through a lender-finder such as Monzi’s, that can give you access to quick loans now.

How to apply for a child care subsidy?

Start by using a child care subsidy calculator to work out what you might be entitled to. From there, if you have realised that you are eligible, you can begin the application process. Currently, there are five steps to do so. These are:

  1. Access Centrelink through your MyGov account
  2. Click ‘payments and claims’ – ‘claims’ – ‘make a claim.’
  3. Search under families and click ‘get started.’
  4. Fill in the required fields and answer the questions.
  5. Submit

If you need help with submitting your claim, you may be able to submit your application in person at your local Centrelink. Or, you may be able to speak to a customer service member online or over the phone. After this, all that is left to do is to agree to the Complying Written Agreement (CWA) via MyGov.

How long does it take to get approved?

If you are enrolling a child into daycare and have not encountered this process before, you may want to begin the process well in advance of your child’s first day. From start to finish, the CCS process could end up taking four to six weeks. Therefore, you may have to pay the childcare’s total fees in the interim. You can track the progression of your claim in the meantime.

Hence, using a child care subsidy calculator well in advance may help you budget for this period where nothing is subsidised. If you do encounter a gap where you are not getting any help with your payments, but your child is enrolled, Monzi may help. You might be able to borrow small cash loans to help cover your payments during this time. If you realise you need extra money fast, you can apply online. Monzi may be able to find you a lender in as little as 60 minutes if you apply for a loan during business hours. That way, you can pay your fees and keep working.

Child care subsidy eligibility

You may be eligible for CCS if you or your partner:

  • Are liable for an approved child care service’s care
  • Care for your child at least two nights a fortnight
  • Meet the residency requirements

Your child then must meet specific criteria, these are:

  • They are not attending secondary school with an exemption
  • They meet the immunisation requirements

If you have a child at secondary school, they should be either 13 or under, or 14 to 18 with a disability. In all these circumstances, you may need to provide evidence as to why your child requires supervision. In some instances, you may need to include proof of your child’s disability.

The rest of the eligibility criteria depends on your family’s income. You may also qualify for a more significant sum if you are a grandparent, or experiencing temporary financial hardship etc. You can access all this information on the Centrelink site.

child care subsidy calculator

Child care subsidy threshold

Unfortunately for some, there is a combined family income threshold on CCS. A child care subsidy calculator is likely to tell you if you exceed this. If your combined family income exceeds the $354,305 threshold, you won’t have any subsidy entitlement. If your combined family income is between $254,305 and $354,305, you may have a subsidy entitlement of 20%. The amount of daycare subsidy you can access increases as your income decreases.

If you only make up to $70,015, you may have a subsidy entitlement of 85%. As a rule, you may be able to expect the subsidy to decrease by 1% for every extra $3,000 you earn. You may also encounter subsidy caps per child.

What is an overpayment?

Centrelink can overpay you. This is similar to taking an overdraft on a credit card. However, it is often the result of an error. Just as you would owe extra money with an overdraft, if you receive an overpayment, you will need to repay this money. A child care subsidy calculator cannot help you in the event of an overpayment. Instead, you will need to visit the Centrelink website for information on what to do next.

Essentially, Centrelink will identify that you owe money and get in contact with you to explain why and what the next step is. From there, you are likely to receive a due date to pay or begin repaying. If you haven’t paid by this date, repercussions will apply. If you need help managing this, the government’s MoneySmart site has an excellent page on how to get debt under control. This is a great spot to start your research.

When is it a good idea to apply?

Generally, it is a good idea to apply in advance when you know you will need to enrol your child in daycare. When you think it is time for your child to begin daycare, consider using a child care subsidy calculator to see what you may be eligible for. If it informs you that you qualify to have a significant hourly rate per fortnight for daycare, it may be worthwhile to place your application as soon as possible.

It is also a good idea to apply to subsidise a second child’s child care fees. It may come time to enrol a second child in daycare. If this is the case, you may be eligible for more subsidies. Use a child care subsidy calculator to determine what you may qualify for, and then begin applying.

Does child care subsidy vary by state?

No, CCS is a federal payment that you access via Centrelink and what you can access remains the same across all Australian states and territories. If you are looking to verify your eligibility, visit your local Centrelink. Or, if you live too far away, you may be able to receive help online or over the phone.

What happens to a child care subsidy if you get a pay rise?

If you get a pay rise at work or change jobs and start earning a higher salary, you will need to contact Centrelink to let them know of the changes. If you fail to do so, you might receive an overpayment. This would mean that you then owe the government money.

To avoid this, update your family income once your pay rise or job change is final. That way, everyone stays on the same page, and you can keep yourself and your family out of debt. You can use the child care subsidy calculator to see how your increase in income may affect the percentage of daycare you can subsidise.

Loans for putting your children through school

In Australia, student loans are not as prominent as they are in countries such as America. However, when it comes to putting your child through school, no matter their age, it can be expensive. Fortunately, the public school system does make school accessible for most Australian children. However, if your child is in the private system or needs new equipment or uniforms, it may be hard to find the cash.

Luckily if you place an application for cash loans through the Monzi lender-finder, you might be able to replace your child’s laptop as soon as it breaks. Personal loans can provide you with the extra cash you need with a quick turnaround. The lenders in the Monzi network know that people make mistakes. Even if your credit report doesn’t look so great, they may still be able to make bad credit loans happen. Your child’s education is essential; Monzi may be able to help you give them the best.

How might a personal loan help?

There are several things personal loans can enable you to do. Not only for your child’s daycare or school pocket costs but also for paying bills and maintaining the quality of life. Taking a personal loan through Monzi allows you to be flexible with your money and pay off expenses of any sort. For example, your household most likely relies on its white goods. Hence, if an appliance breaks, why not take a white goods loan?

Alternatively, Monzi knows how important furry friends are to the family. If you have a pet that falls sick or gets injured, a personal loan can stand in place of vet bills and pet finance. Get Fido back on his feet again and keep all the members of your family in good health. If you can think of anything you need money for right now that’s not illegal, one of the lenders in the Monzi network may be able to help you out.

Are there other government grants that can help families?

There are several government grants in circulation designed to help families of all sorts. Start by going to your state government’s website. Look into financial help, money and advice, and then click into family payments and support, you should find a list. You may not necessarily find a tool like a child care subsidy calculator for other types of grants. However, clicking on any of the available grants should show you their attached terms and eligibility criteria.

You may be able to access extra payments if you are any of the following:

  • A new parent
  • A single parent
  • Need help with education or medical costs
  • Are a parent of a disabled child
  • Are rural or remote
  • Have an injury or circumstance preventing you from working

Other reasons may entitle you to extra help. However, these are some examples to give you an understanding. There is a plethora of support for families, whether big or small, blood-related or not. If you need help, reach out and ask for it.

Family loans

There aren’t necessarily any loans known as family loans. However, if you have an expense that needs sorting for the benefit of your family, Monzi may be able to help. The majority of the lenders in our network are private lenders offering private loans. Meaning that they may be able to provide you with a quick turnaround and reasonable criteria.

You don’t have to be worried about instant rejection because of your credit score. Monzi lenders won’t end your assessment at the credit check. They may look at your income and expenses, job, assets, and any security you may be providing for your loan. You can’t use a child care subsidy calculator for this purpose. However, you could instead use a repayment calculator to help you budget any loan that you take.

Does the family car need an upgrade?

Is your family getting larger? If so, Monzi understands the need to purchase a bigger car. However, large vehicles aren’t cheap. Especially if you want to buy new for the added safety features that can protect you and your children. Suppose this is the case; you don’t have to take a specific new car loan or a used car loan. Instead, you can simply take a personal loan and get quick money for your new car. Drive safe!

Treat the family

Planning a family holiday? Need to create more space? Want to live a little more indulgently in the upcoming months? See how a Monzi loan might be able to help get things done. If you need any amount between $300 and $10,000, a Monzi lender may be able to help. That way, you can take that travel loan and explore Australia. Or, perhaps you take a renovation loan and put in some work so that each of your kids can have their own rooms. Whatever the job you’re looking to complete, why not see what Monzi can do for you?

Are you having a baby?

Having a baby is an exciting time; however, not only might it mean you or your partner takes time off work. It could also mean increased medical bills. If you need to access extra funds on maternity leave or cover the cost of medical bills, a personal loan may provide the cash injection you need. You can use a personal loan in the place of medical loans when required. Or, you can take debt consolidation loans to get your affairs in order before the new baby.

Whether it’s your first or fifth child, don’t worry about your finances once they come into the world. Take fast loans now to get yourself in order. Life is about to change again; Monzi might help take the stress out of borrowing money.

How can Monzi help?

Monzi doesn’t offer a child care subsidy calculator. However, if you are looking for same day loans, we may be able to find you a lender that can help. If you apply within business hours, it is possible that we can match you in as little as 60 minutes. To get started, all you have to do is scroll up to our loan slider and fill out your application.

From there, the rest is up to us. If we can successfully match you to a lender, they should be in contact with you shortly after. However, don’t make any uninformed decisions. If you have any questions about how the Monzi lender-finder works, feel free to contact us. You can reach our friendly team at hello@monzi.com.au. We look forward to hearing from you.

Check out our socials!

You can find Monzi on Facebook, Instagram, Twitter and Pinterest. So, if you’d like to keep in touch with us and check out our latest articles, we’ll meet you there. And, if you don’t like emails and prefer to direct message, we’ll do our best to answer your questions in our inbox.

Factor In

Costs

Two credit cards
Two credit cards

You won't use a penny to apply for our lender-finding service, but here's some costs you could expect from a lender

Loan amount

$300 - $2,000

Terms

12 months (minimum)

12 months (maximum)

Costs

20% upfront establishment fee

+ 4% monthly fee

Example

Loan Amount of $1,000 over 6 months repayable weekly (25 weekly repayments). $1,000 (Principal Amount) + $200 (20% Establishment Fee) + $240 (fees based on 4% per month over 25 weeks) = $1,440 total repayable in 25 weekly installments of $57.60.

Under the current legislation, most small personal loan providers don’t charge an annual interest rate (you’ll know this as an APR) %. The maximum you will be charged is a flat 20% Establishment Fee and a flat 4% Monthly Fee. The maximum comparison rate on loans between $300 and $2000 is 199.43%. The minimum and maximum loan term is 12 months. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Loan amount

$2,001 - $4,600

Terms

13 months (minimum)

24 months (maximum)

Costs

48% Annual Percentage Rate (APR)

67.41% Comparison Rate p.a.

Example

Loan Amount of $3,000 over 18 months repayable weekly (78 weekly repayments). $3,000 (Principal Amount) + $400 (Establishment Fee) + $1,379.06 (reducing interest) = $4,779.06 total repayable over 18 months with weekly installments of $61.27.

The Annual Percentage Rate (APR) for Secured Medium Loans is 48%. The Typical Comparison Rate is 67.41% p.a. The minimum loan term is 13 months and the maximum loan term is 24 months. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. Click here to see a worked example.

Loan amount

$5,000 - $10,000

Terms

13 months (minimum)

24 months (maximum)

Costs

21.24% Annual Percentage Rate (APR)

48% Comparison Rate p.a.

Example

Loan Amount of $10,000 over 24 months repayable weekly (104 weekly repayments). $10,000 (Principal Amount) + $5,577.12 (Interest) = $15,577.12 total repayable over 24 months with weekly installments of $149.78.

The Annual Percentage Rate (APR) for Secured Large Amount Loans is 48%. Maximum Comparison Rate is 48% p.a. The minimum loan term is 13 months and the maximum loan term is 24 months. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. Click here to see a worked example.