CPI Adjustment- CPI for Determination DET 05/03: Standard-cost household service for boarding service providers

In accordance with the provisions of Determination DET 05/03, as published in Tax Information Bulletin Vol 17, No 10 (December 2005), Inland Revenue advises that the weekly standard-cost component for the 2014 income year, is retrospectively adjusted as follows:

1. The weekly standard-cost for one to two boarders will increase from $250 each to $254 each.
2. The weekly standard-cost for third and subsequent number of boarders will increase from $204 each to $208 each.

The above amounts have been adjusted in accordance with the annual movement of the Consumers Price Index for the twelve months to March 2014, which showed an increase of 1.5%. For boarding service providers who have a standard 31 March balance date, the new amounts apply for the period from 1 April 2013 to 31 March 2014.