Rise in tax limit good news for childminders

CHILDMINDERS were given a financial boost in yesterday’s Budget announcement, but only those who look after one or two children.

Childminding Ireland welcomed the decision by Finance Minister Brian Cowen to raise the income tax exemption for those minding the children of others in the minder’s own home from €10,000 to €15,000.

However, it pointed out that it officially excluded those minding more than three children. In addition it said in reality, at an average cost of €125 per child per week, those looking after more than two children at the average rate would be earning above the exemption rate anyway. In raising the exemption limit Mr Cowen admitted there had been a slow take-up of the tax incentive since it was introduced last year.