School Expenses – Claim your refund!

With the closing of one school year, many of you will already have the booklists for 2012, and might be planning to shop  over the holidays.

So we thought it would be worth reminding you about the Education Tax Refund.

What is the Education Tax Refund
The Education Tax Refund (ETR) helps with the cost of educating primary and secondary school children.

Eligible parents, carers, legal guardians and independent students are able to get money back on education expenses. These include items like computers, educational software, textbooks and stationery.

You may get 50% of your money back.If you get Family Tax Benefit (FTB) Part A, you probably are eligible for the ETR. There are also some payments that prevent you from receiving FTB Part A, but which still entitle you to receive the refund.

You can also claim the refund if you are an independent student. For more information, go to http://www.educationtaxrefund.gov.au/index.html

You need to keep your receipts as you need them to calculate your entitlement and you may need them as proof of purchase.

What items can I claim?

Eligible expenses include the cost of buying, establishing, repairing and maintaining any of the following items:

home computers and laptops

computer-related equipment such as printers, USB flash drives

disability aids to assist in the use of computer equipment for students with special needs

computer repairs

home internet connections

computer software for educational use

school textbooks and other printed learning material, including prescribed textbooks, associated learning materials, study guides and stationery

prescribed trade tools for secondary school trade courses

What items can’t I claim?

You cannot claim:

school fees

student attendance at school-based extra curricular activities such as excursions and camps

tutoring costs

sporting equipment

musical instruments

school subject levies – for example, payment for consumables for particular subjects such as woodwork, art or home science

building levies

library book fees

school photos

donations

tuck shop expenses

waiting list fees

transport

membership fees

computer games and consoles

So make sure you keep your receipts and let us know at tax time so we can maximise your refund.

If you have any queries, email admin@mbrgroup.com.au