Buckscoop > Deals > Mums & Kids > Education Tax Refund

Education Tax Refund

Posted By: Rebekah76, posted 2010/05/31 10:17
Just thought it timely to remind everyone about the Education Tax Refund.

If you have a school aged child and are eligible for Family Tax A, you can buy educational items and receive 50% rebate in your next tax form... so - if you have a bit of spare cash around at the moment, it's worth having a look at what's around.

Eligible education expenses include the purchase, lease, hire or hire-purchase costs of:

* laptop computers, home computers and associated costs, including repair and running costs of computer equipment
* computer-related equipment such as printers, USB flash drives, and disability aids to assist in the use of computer equipment for students with special needs
* home internet connections, including the costs of establishing and maintaining them
* computer software for educational use
* word processing, spreadsheet, database and presentation software, and internet filters and antivirus software
* school textbooks and other paper-based school learning material, including prescribed textbooks, associated learning materials, study guides and stationery for example, pencils, pens, compasses and glue
* prescribed trade tools.


For more info - http://www.ato.gov.au/individuals/content.asp?doc=/content/00166469.htm

From the ATO website -
If you are eligible, you can claim the refund in your 2009 individual tax return or, for those not required to lodge an income tax return, through a stand-alone claim form.

For the period 1 July 2008 to 30 June 2009, the maximum you can claim is 50% of eligible expenses up to:

* $750 for each eligible student in primary school - that is, a refund of up to $375
* $1,500 for each eligible student in secondary school - that is, a refund of up to $750.

If your expenses exceed your refund limit for the year, any excess can go towards your following year's refund claim, as long as you are still eligible.

Eligible independent students undertaking secondary school studies can also claim 50% of eligible expenses up to $1,500 - that is a refund of up to $750 - for the period 1 July 2008 to 30 June 2009.

The refund is a fully refundable tax offset that will be paid as part of your tax return or if you are not required to lodge a tax return, you will need to lodge a 2009 Education Tax Refund claim (NAT 72621) and your refund will be paid as a cheque or an electronic payment into your nominated bank account. From 1 July 2009, you can download the claim from the Tax Office website.

It really is a fantastic 'deal'!!
Expiry date:2010/06/30
77°-+
  • SpendThrift2010/06/01 12:41:16
    I believe this was only available for the 2008/2009 tax year, not the 2009/2010 tax year.

    The following is taken from the ATO's website:
    Q1: How will the refund work?
    If you are eligible, you can claim the refund in your 2009 individual tax return or, for those not required to lodge an income tax return, through a stand-alone claim form.

    For the period 1 July 2008 to 30 June 2009, the maximum you can claim is 50% of eligible expenses up to:

    $750 for each eligible student in primary school - that is, a refund of up to $375
    $1,500 for each eligible student in secondary school - that is, a refund of up to $750.
    If your expenses exceed your refund limit for the year, any excess can go towards your following year's refund claim, as long as you are still eligible.

    Eligible independent students undertaking secondary school studies can also claim 50% of eligible expenses up to $1,500 - that is a refund of up to $750 - for the period 1 July 2008 to 30 June 2009.

    The refund is a fully refundable tax offset that will be paid as part of your tax return or if you are not required to lodge a tax return, you will need to lodge a 2009 Education Tax Refund claim (NAT 72621) and your refund will be paid as a cheque or an electronic payment into your nominated bank account. From 1 July 2009, you can download the claim from the Tax Office website.
  • Rebekah762010/06/01 13:06:57
    continues to 2009/10 year also, but amount is indexed upwards

    For the period 1 July 2009 to 30 June 2010 you can claim up to:

    * $780 for each eligible child in primary school – that is, a refund of $390
    * $1,558 for each eligible child in secondary school – that is a refund of up to $779.

    sorry i thought i'd copied the current info only
  • sam2010/06/02 19:55:43
    Rebekah76
    continues to 2009/10 year also, but amount is indexed upwards

    For the period 1 July 2009 to 30 June 2010 you can claim up to:

    * $780 for each eligible child in primary school – that is, a refund of $390
    * $1,558 for each eligible child in secondary school – that is a refund of up to $779.

    sorry i thought i'd copied the current info only



    So does this mean if i claimed last year, which i did...(i bought the kids a laptop), that this year, for example, i could get another laptop, and recieve $390 refund for each child in primary school?
  • MamaK2010/06/02 20:29:36
    sam
    So does this mean if i claimed last year, which i did...(i bought the kids a laptop), that this year, for example, i could get another laptop, and recieve $390 refund for each child in primary school?


    That's my understanding of it, you can claim internet costs and also spread the costs between children (so if you have 2 primary children you can claim 1560 for a refund of 780) and also bring the extra forward to the next year's return
  • Rebekah762010/06/03 14:19:44
    here's an example -
    if i have two PS aged kids
    I buy a laptop, educ software, internet connection, etc worth $1800
    then I am eligible to get half of that back - $800 - $390 through one kid and $390 through another - then i have $20 leftover to get back next year.

    seriously - if you haven't bought anything yet - it's like the tax office saying - here's a voucher for 50% off a computer, printer, etc - the only catch is that you have to pay for the lot first, then get it refunded - but unlike so many other deals where you might doubt you may ever get your money back - it's the govt!! as long as you only buy things that are on the list as included items.

    makes that laptop that costs $750 a true cost of $375 - if a decent laptop was posted here for $375, people would snap it up!
  • Keeys2010/06/03 18:22:44

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