TickTax Australia

You're not the only one wondering about these questions, so don't be afraid to ask.

In the meantime, here are some useful answers to those frequently asked questions.  Keep in mind though that these answers are of a general nature. Contact us to discuss your particular situation. And you will understand if we save a few of the answers for our registed clients who can access More FAQs here.

There's a heap of cool stuff that we can tell you about tax. Some of it we can put on the public web site because it is freely available anyway (provided that you know where to find in on the internet). And some of it we can only make available to existing clients in our Client Stuff area. But here are a few free tips to get you started.

Sadly, it's not all a walk in the park. This is the scary stuff that you probably didn't want to know but we think just might be handy to be aware of.

We know stuff happens, life gets in the way and sometimetimes you don't get your tax return lodged. Next thing you know you are receiving another PAYG Earnings Summary, you can't find last year's lot and ...
Well, you know the rest of the story. 

What is the ETR?

How much can you claim?

By keeping their receipts, eligible families will be able to claim a 50 per cent refund every year for key education expenses up to:

• $750 for each child undertaking primary studies (maximum refund of $375 per child, per year); and
• $1,500 for each child undertaking secondary studies (maximum refund of $750 per child, per year).

For example, Sarah and Michael have two children, Petra, who is in secondary school and Jack, now in grade three. Through the Education Tax Refund, Sarah and Michael are able to claim 50 per cent of the cost of a $1,500 laptop computer they bought for Petra, a refund of $750.

They will also be able to claim Jack's education software and school textbooks up to the value of $750, receiving a refund of up to $375.

Where a family has educational costs in excess of the refund limit, these costs can be carried over to the next financial year.

What items are covered?

Eligible expenses for the Education Tax Refund include:

• laptops;
• home computers and associated costs;
• home internet connections;
• printers;
• education software;
• trade tools for use at school;
• school text books; and
• stationery.

Who is eligible?

Parents entitled to Family Tax Benefit (FTB) Part A for children in primary or secondary school for the relevant financial year are eligible for the Education Tax Refund.

Parents are also eligible if they have children in primary or secondary school who would be eligible children for FTB Part A purposes, but for the fact that the child receives certain payments or allowances, for example:

• Youth Allowance;
• Disability Support Pension; and
• ABSTUDY Living Allowance.

How do you claim the Education Tax Refund?