Education Tax Refund

By Sandy Naidu | July 15, 2008

In the current federal budget, the government announced 50% Education Tax Refund to help families with the costs of education.

Parents entitled to Family Tax Benefit A will be eligible for this tax refund. You can claim 50% tax refund on expenses up to:

* $750 in educational expenses for each child undertaking primary school studies

* $1500 in educational expenses for each child undertaking secondary school studies

So this means you can claim up to:

* $375 for each child undertaking primary school studies
* $750 for each child undertaking secondary school studies

So What Can You Claim?

* laptops
* home computers and associated costs
* home internet connections
* printers
* education software
* trade tools for use at school
* school text books and associated material such as study guides
* stationery

To be able to claim these expenses you need to keep all your receipts. You can claim this refund when filing your end of year tax return. If your expenses are more than set amount (i.e. $750 for primary or $1500 for secondary), then you carry forward the excess amounts to the next financial year.