Mums & Kids
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.
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