Other News & Stories

How Does the New Subsidy Affect Child Care Providers?

Girl holding a teddy bearThe Australian government has implemented a new subsidy for families in July, replacing the Child Care Rebate and Child Care Benefit with the single Child Care Subsidy.

Under the new system, households with up to $66,958 of combined annual income will be eligible for subsidies equal to 85% of fees. With the new subsidy, better child care management solutions are now more necessary.

Subsidised Rates

Families with a combined annual income worth more than $66,958 and up to $171,958 will be subsidised by a stepped reduction of fees, which will be 50%. Any additional income worth $3,000 reduces the subsidy by 1% in this income bracket.

Those who earn between $251,248 and $341,248 per year could avail a stepped reduction to 20% of charges, while families with a higher income are eligible for 20% subsidies. There will be no subsidies for families with at least $351,248 of annual income or more.

Work Hours

The new subsidy also encourages parents to feel more comfortable about going to work and leaving their child to formal care. However, some parents are relying on their kids’ grandparents for informal child care. In Sydney, this trend manifested through seniors who reduce their time from work to take care of their grandchildren.

Still, the new subsidy provides up to 100 hours of subsidised care per child, depending on the number of hours rendered for work or an approved activity. The approved activities include college education, active job searching and volunteer work. The hourly subsidies are available per fortnight.

Child care providers in the country should have already familiarised themselves with the changes of the new subsidy system. While the cost of care for children has increased, companies should consider consulting with experts on how to maintain the continued relevance of their business.

September 6, 2018 at 7:12 pmMind of Money

4 Surprisingly Easy Ways to Boost Your Child’s Intellectual Abilities

preschool child with mentorEach child is born with unique natural abilities. It could be that they have a knack for numbers or that they naturally like athletic activities. But regardless of what they seem to enjoy, their abilities are still developing, and there are certain things you can do to improve this process. Here are four of them.

1. Encourage Self-Discipline

One of the essential things your child learns if you sign them up for the right childhood program in Phoenix, AZ is how to be mindful of their responsibilities and to recognize their priorities. Self-discipline is the greatest determinant of an individual’s success. At home, teach them simple yet essential habits, such as time management and cleanliness.

2. Read with Them

Most parents of preschoolers are more concerned with whether their kids can read well more than in any other school-related activity. To reinforce what they learn at school, it is a good idea to not just read to them but, more importantly, with them. Once you’re done reading a bedtime story, discuss it with them to stimulate their curiosity, imagination, and creativity.

3. Suggest Music Lessons

Children who take music lessons tend to demonstrate a higher level of brain development than peers who don’t. In fact, music has the power to boost children’s intellect and mental capabilities, so put music lessons on the table. It is a creative outlet that increases kids’ musical and overall intelligence.

4. Introduce the Concept of Meditation

One is never too young to start meditating. Introduce the concept of meditation to your child through simple techniques that can calm their mind, such as deep breathing. Not only does this technique help control emotions, but it also significantly boosts memory.

Consider introducing your children to these simple practices from an early age. With them, you can greatly boost your kid’s intellectual development.

August 30, 2018 at 5:27 pmStudy Section

Here’s How You Can Ensure a Successful 1031 Property Exchange

Couple looking for home propertyIt might seem strange, but the government is your ally when investing in the commercial real estate. The state applauds your effort to house the masses, and provide office spaces for workers and manufacturers. To this end, the Internal Revenue Service or IRS makes concessions in the tax code to help you grow your investment in the sector.

Under Section 1031, you can defer paying taxes on capital gains if you reinvest the proceeds from a sale back into the commercial real estate sector. For a successful 1031 exchange in Idaho, you need to take a few precautions, notes 1031 Exchange Place.

Hunt for a Replacement Property Early

As with every property deal, you’re looking to build equity as quickly as possible. In a vibrant market, such properties are in short supply. Hence, it might take you several months to find the ideal replacement property when looking to make an exchange.

Given that you have 180 days to seal the deal, time is a luxury you can’t afford. The countdown begins once you close the sale on the current property. For the best results, begin your search long before putting your property on the market. That way, you can beat both the 45-day and 180-day deadline.

Have the Financing Ready

A property exchange allows you to buy properties worth up to twice the value of the current property. In such a case, it might mean that you’ll need a line of credit to finance the remaining amount. To avoid undue delays when the countdown timer is running, get pre qualified for a loan.

Otherwise, if the money doesn’t come through on time, the exchange falls through. If that happens, you’ll not only lose the opportunity but also have steep capital gains to contend with. To add insult to the injury, you’ll be saddled with costs incurred during the failed exchange process.

Taking part in a 1031 property exchange is a credible way to improve your real estate holding. However, you need to tread carefully to avoid common pitfalls that could ruin the entire process.

August 22, 2018 at 7:36 pmMind of Money