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Do you have Primary or Secondary school aged children?

You may be eligible for the new Education Tax Rebate.

Education Tax Offset 

From the 1st July 2008, families receiving FTB Part 'A' with children undertaking primary or secondary studies will be eligible to claim a refundable tax offset in respect of eligible education expenses incurred from this date (e.g. laptops, education software, school text books and stationery).

The Tax Offset will be claimed through the individual's tax return for the relevent income year.

Eligible parents will be able to claim the following:

  • A 50% tax offset each year for up to $750 of education expenses for each child attending Primary School (i.e. a maximum tax offset of $375 per child, per year).
  • A 50% tax offset each year for up to $1,500 of educational expenses for each child attending Secondary School (i.e. a maximum tax offset of $750 per child, per year).

What items are covered?

Eligible expenses for the ‘Education Tax Refund’ (as called by the Treasurer) include:

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

Example

Sarah and Michael have two children, Petra, who is in secondary school and Jack, now in grade three.

Sarah and Michael are able to claim 50% of the cost of a $1,500 laptop computer they bought for Petra, a refund of $750.

They will also be able to claim Jack’s education software and school textbooks up to the value of $750, receiving a refund of up to $375.

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

 

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 tax offset.

In addition, parents may be eligible if they are not entitled to FTB Part A, but would be if not for the fact that the relevant child receives certain payments or allowances (such as Youth Allowance, Disability Support Pension, or ABSTUDY Living Allowance).

The tax offset will normally be claimed through the tax return at the end of the financial year.