Education Tax Refund from July 2008
The 50 per cent rebate will help parents invest in their children’s education, at a cost of 4.4 billion. Families receiving Family Tax Benefit (Part A) with children undertaking primary or secondary studies or whose school children receive Youth Allowance or another relevant payment will be eligible for the Education Tax Offset applying to expenses incurred from 1 July 2008.
Eligible families will be able to claim a 50% refund every year for key education expenses up to:
- $750 for each child undertaking primary studies (maximum refundable tax offset of 375 per child per year
- $1,500 for each child undertaking secondary studies (maximum refundable tax offset of $750 per child per year)
Affected families should plan to keep records of education expenses from 1 July to ensure that the full amount of refund is claimed.