Education tax refund
An Education tax refund has been recently introduced to help families meet the cost of primary and secondary schooling.Under the scheme, a family will be able to claim the refund as a tax offset in their tax return for this year (2009 tax return):
- up to $375 per child per year for primary school (50% tax offset for costs up to $750 pa)
- up to $750 per child per year for secondary school (50% tax offset for costs up to $1,500 pa)
Those eligible to claim the tax refund are families entitled to the Family Tax Benefit (FTB) Part A, or would be entitled to FTB Part A if their children were not receiving specific allowances.
To claim the tax refund, you must retain all receipts, including expenses such as:
- laptops, home computers, internet connection, printer, etc
- education software
- school textbooks and materials (including stationery)
Any education expenses incurred in a year exceeding the annual limit can be carried forward to the next year - provided all receipts are maintained.
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