Education Tax Refund

As of 1 July 2008 eligible families can claim a 50% Education Tax Refund.

The aim of the Refund is to help families meet the costs of educating their children and to ensure families have access to resources (internet access, etc.) that would improve educational outcomes.  If your family is eligible you can claim a 50% refund every year for eligible education expenses. You can claim up to:

  • $750 for each childengaged inprimary school studies, with a maximum refundable tax offset of $375/child/year.
  • $1,500 for each childengaged insecondary school studies, with amaximum refundable tax offset of $750/child/year

Eligibility

  • Those parents entitled to Family Tax Benefit (FTB) Part A in respect of children attending primary or secondary studies for the relevant financial year.
  • Those parents with childrenattending primary or secondary studies where the children are eligiblefor FTB Part A purposes, but for the fact that the child receives certain payments or allowances (egYouth Allowance, Disability Support Pension, ABSTUDY Living Allowance).

Eligible Expenses for the ETR

  • Laptops, home computers and associated running costs (printers, paper, leasing, repairs, USB flash drives, word processing packages,)
  • Home internet connection and costs associated with set-up and maintaining (anti-virus software, internet filters)
  • Educational software
  • School textbooks and materials
  • Prescribed trade tools.

What is NOT Eligible?

None of the following are an eligible expense:- School fees, uniforms, camps, excursions, school photos, donations, school levies, sporting or music equipment, transport or tutoring.

Where parents have more than one  eligible child the expenses can be pooled as long as each child has access to the purchased item.   Expenses over the $1500 (secondary school) or $750 (primary school) can be carried forward to the next financial year, however, expenses not claimed in the year they occurred or the following financial year will lapse.

Expense receipts must be provided and are only eligible from 1st July 2008 for inclusion in the 2008/09 tax return.

FURTHER INFORMATION: See the Education Tax Refund Fact Sheet and the ETR-What you need to know  on the ATO website.

IMPORTANT DISCLAIMER: This article is published as a guide to clients and for their private information. This article does not constitute advice. Clients should not act solely on the basis of the material contained in this article. Items herein are general comments only and do not convey advice per se. Also changes in legislation may occur quickly. We therefore recommend that our formal advice be sought before acting in any of these areas.

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