SCHOOL’S BACK! KEEP YOUR RECEIPTS TO BENEFIT FROM THE EDUCATION TAX REFUND
Friday, 27 January 2012
The Federal Member for Ballarat, Catherine King, has urged parents with kids at school to keep their receipts for education expenses, with thousands of local families eligible for assistance under from the Gillard Government’s Education Tax Refund (ETR).
New annual figures show that 8780 families in the Ballarat electorate received a total of $5, 251,700 in assistance for school expenses under Labor’s ETR (in the 2009/10 income year).
“The back-to-school period is often very expensive, coming off the back of the holiday period,” Ms King said..
“Every bit counts when you’re faced with the prospect of all those expenses associated with getting the kids ready for the new school year.
“Expenses can really accumulate at this time of year so no doubt a refund will come in really handy when you claim it at tax time 2012, less than six months away.
“But to make the most of it, parents should be organised and keep their receipts in a safe place.
“On top of the regular items, such as computers, home internet connections, textbooks and stationery, at tax time 2012 parents will also be able to claim school-approved uniforms, including hats, footwear and sports uniforms purchased.”
Parents who don’t need to put in a tax return can use the Education Tax Refund claim form to claim over the phone.
Ms King said including school uniforms as part of the Education Tax Refund is a big win for local families.
“This refund provides parents with much-needed help for education expenses, with refunds of up to $409 per primary school student and $818 per secondary school student available at Tax Time in 2012 if they are eligible for Family Tax Benefit Part A,” Ms King said.
“Parents bringing up the next generation of Australians are doing one of the most important jobs in Australia and they deserve a helping hand.
“It’s also a central part of the Labor Government’s education initiatives aimed at giving kids in Ballarat and all over Australia, the best possible start in life.”
To find out if you are eligible for the Education Tax Refund and what expenses can be claimed visit www.educationtaxrefund.gov.au.
The Education Tax Refund is just one way the Gillard Government is helping with the cost of living, along with:
• Increasing the Child Care Tax Rebate from 30 to 50 per cent of out-of-pocket costs
• Boosting the rate of Family Tax Benefit Part A for families with teenagers turning 16 – worth up to an extra $4208 a year – as of 1 January this year
• Three rounds of personal income tax cuts the Government has delivered that mean someone on $50,000 is now paying $1750 a year less in tax than they were four years ago
• Tripling the tax free threshold – coming into effect on 1 July this year.
Media contact: Peter Dwyer (Ms King’s office) 0409.866.054