Last night, the Senate passed the Rudd Labor Government’s $4.4 billion Education Tax Refund.
A key part of the Education Revolution, the Education Tax Refund will help parents meet the costs of their children’s education, including laptop and home computers.
About 1.3 million families across Australia, with 2.7 million students, stand to benefit from the Education Tax Refund and get some much-needed relief from the costs of educating their kids.
Eligible families will receive a 50 per cent refund every year for eligible education expenses up to:
- $375 per primary school child, per year
- $750 per secondary school child, per year
Eligible families will be able to recoup the cost of key purchases for their children’s education, including:
- laptops;
- home computers and associated costs;
- home internet connections;
- printers;
- education software;
- trade tools for use at school;
- school text books; and
- stationery.
The Government reminds families to keep their receipts for expenditure on these items from 1 July 2008 to enable them to claim the benefits through their tax returns at the end of the 2008-09 financial year.
Families receiving Family Tax Benefit (Part A) with children in primary or secondary studies, or whose school children receive Youth Allowance or another relevant payment, will be eligible for the Education Tax Refund.
Parents who do not normally lodge an income tax return can also claim the refund through the Australian Taxation Office.
For further information, please visit:
http://www.treasury.gov.au/contentitem.asp?NavId=035&ContentID=1394