EDUCATION TAX OFFSET

Parents are being advised to ‘keep their receipts’ for education expenses in light of the commencement

of the Education Tax Offset from 1 July 2008.

How much can be claimed?

Eligible families (generally parents entitled to Family Tax Benefit (FTB) Part A) will be able to

claim a 50% tax offset every year (in their tax return) for key education expenses up to:

1. $750 for each child undertaking primary studies (i.e., maximum refund of $375 per child,

per year); and

2. $1,500 for each child undertaking secondary studies (i.e., maximum refund of $750 per

child, per year).

What items are covered?

Eligible expenses include:

· laptops, home computers and associated costs;

· printers;

· home internet connections;

· education software

· trade tools for use at school;

· school text books; and

· stationery.