Parents are being reminded to save receipts as they prepare their children for a return to school.
Eligible expenses for the Education Tax Refund include:
- Home computers and associated costs
- Home internet connections
- Education software
- Trade tools for use at school
- School text books
The Federal Member for Page, Janelle Saffin, said parents struggling with back-to-school expenses should save their receipts so they can claim the education tax refund at the end of this financial year.
Ms Saffin said it can be an expensive exercise providing school kids with all the items they need for school.
“In this digital age, school expenses can include computers, software and printers on top of the usual text books and stationery,” she said.
“The Rudd Government is aware that many families are financially stretched, which is why last December the Government’s Economic Security Strategy included payments of $1000 per child to families receiving Family Tax Benefit A.
“Those payments, combined with the Government’s Education Tax Refund, will be a great help with the extra expenses at the start of the school year.”
Under the Rudd Government’s Education Tax Refund program, eligible families can claim a 50 per cent refund for key education expenses up to $750 for each primary school child (maximum $375 refund per child) and up to $1500 for each secondary school student (with maximum $750 refund per student).
The refund applies to all parents entitled to Family Tax Benefit Part A for children in primary or secondary school for the relevant financial year.
Parents will be able to claim 50 per cent of these education expenses through their tax return at the end of the financial year.
A separate form will be available at the tax office for those who are not required to complete an income tax return.