I am sure like our house the last couple of days has been spent frantically labelling, buying new shoes, pencils and getting ready for the first day back at school. (at least that is what my wife tells me!). Amidst all of this don’t forget to keep your receipts as you could be missing out on a sizeable tax deduction this year.
Who is Eligable – the main criteria (althought there are some exceptions) is that you are recieving family tax benefit part A.
Before you claim the Education Tax Refund (ETR) you must first have lodged a claim for FTB Part A for the child with the Family Assistance Office (FAO) and had that claim approved. This includes approved claims where you elected to receive a zero fortnightly rate.
What can you claim?
The rules have changed this year to include school uniforms, footwear and sports clothes. They do not necessarily have to have the school crest either. Click here to get more information on what classes as eligible uniform. You can also claim home computer costs, repairs, USB’s, home internet, and stationary.
The key is to keep all of your reciepts, so if you are not sure keep the reciepts and discuss with your tax adviser the next time you get together.
For more information and full eligibility check out the ETR website by clicking here.