The treasurer has reminded parents of school aged children of the importance of keeping the receipts needed to claim the Education Tax Refund in their tax returns of 2009 and subsequent years.

The Education Tax Refund will provide parents with for education expenses, with refunds of up to:

  • $375 per primary school student; and
  • $750 per secondary school student.

How much can you claim?

By keeping their receipts, eligible families will be able to claim a 50 per cent refund every year for key education expenses up to:

  • $750 for each child undertaking primary studies (maximum refund of $375 per child, per year); and
  • $1,500 for each child undertaking secondary studies (maximum refund of $750 per child, per year).

Where a family has educational costs in excess of the refund limit, these costs can be carried over to the next financial year.

What items are covered?

Eligible expenses for the Education Tax Refund include:

  • laptops;
  • home computers and associated costs;
  • home internet connections;
  • printers;
  • education software;
  • trade tools for use at school;
  • school text books; and
  • stationery.

Who is eligible?

Parents entitled to Family Tax Benefit (FTB) Part A for children in primary or secondary school for the relevant financial year are eligible for the Education Tax Refund.

Parents are also eligible if they have children in primary or secondary school who would be eligible children for FTB Part A purposes, but for the fact that the child receives certain payments or allowances, for example:

  • Youth Allowance;
  • Disability Support Pension; and
  • ABSTUDY Living Allowance.

How do you claim the Education Tax Refund?

Parents will then be able to claim 50 per cent of these expenses through their tax return at the end of the financial year. For those who are not required to complete an income tax return, a separate form will be available from the Australian Taxation Office.

Taken from the treasurers press release.