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Childcare costs vary between the centre. They are from around $A15 a day to up to $A50 per day. There is Commonwealth government subsidy, but I am unsure of what it is as it is some years since I had to use them.
There are a number of good primary schools in every suburb, but I would probably suggest the inner Eastern suburbs of Toorak (a wealthy suburb), Caulfield, Kew, Malvern, Prahran, Doncaster. The State primary schools in these areas are excellent, as are the private schools (Catholic, Jewish and Church of England, Presbyterian and Protestant). Similarly with High schools and there are several excellent universities.
As for the milk formula, I do not know. There are a number of good child milk formulas available in chemists and supermarkets.
Source(s):
A Melbourne born and raised 60+ male.