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50% Education Rebate Tax Offset
If you are a family with primary and secondary school aged children, and entitled to receive Family Tax Benefit Part A,
you will be eligible for this benefit and should start keeping your receipts from 1 July 2008 for educational expenses.
The rebate covers spending on laptops, home computers, repairs and running costs, leasing, home internet connections,
printers, paper, education software, school textbooks and associated material such as study guides, learning materials,
stationery and prescribed trade tools.
Eligible families can claim education expenses of up to $750 for each primary school child and $1,500 on each secondary school child. If you claim the maximum allowable expenses, you will get a $375 reduction in your tax bill for each primary school child and $750 for each high school child. Education expenses in excess of this can be carried forward to the next financial year 2009-2010.
Please refer to the following article for further information:
http://www.moneymanager.com.au/articles/2008/07/07/1215282744162.html
If you have any queries in relation to the above matter, please do not hesitate to contact our office.
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