From 1 July 2008, families who receive FTB Part A with children in primary or secondary school will be able to claim a refundable tax offset for eligible education expenses. The offset will be claimed through the individual tax return for the relevant income year.
Eligible expenses would appear to include laptops, education software, text books, etc. I’ll be very interested to read the fine print concerning these items.
Eligible parents will be able to claim the following:
- A 50% tax offset each year for up to $750 for each child attending primary school (maximum of $375 per child per year).
- A 50% tax offset each year for up to $1,500 for each child attending secondary school (maximum of $750 per child per year).
Article by Christie Lewis
Christie is Practice Manager at Alan Lewis Accountants . Besides accounting, her passion is for all things small business (and blogging, of course). You can contact Christie directly at christie@lewistaxation.com.au.
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