There are lots of tax refunds when it comes to the Australian tax system and you need to be aware of what you may be eligible for. One of the biggest refund there is, is the education tax refund which has become a very sought after refund for most families. The reason why is simply because this refund could help save thousands of families a few hundred or thousand dollars each and every year.
What Is The ETR?
The ETR or the education tax refund has been around for only a short period of time but it has fast become a very popular tax refund available today. It allows families to get back almost half of their children’s expenses due to education. The amounts vary from primary school children to those in secondary school. For more info check out www.taxreturnco.com.au.
How Much Will The Refund Be?
Every family’s tax refunds will vary though, for every child who is in primary school education, the family can receive seven hundred and fifty dollars. For children in secondary school, the families will receive fifteen hundred dollars; but that is per child so if there are two children in secondary school the family will receive a refund of three thousand dollars. The amounts can vary per child however, if you are eligible for the refund, you should receive the money.
Certain Expenses Can Be Claimed For
It is now possible to claim for a variety of school equipment for the children such as computers, educational tools and books and many other things. Everything you are spending on your children when it comes to their schooling should be kept in order to be eligible for any refunds. You can find out more at www.taxreturnco.com.au.
Are All Families Eligible For Tax Refunds?
It may all depend on the amount of income the family home brings in as well as what expenses you are claiming for. For example, if you are trying to claim back certain school holiday costs, you may not get these deductions but it does vary. There are going to be some tax refunds you are eligible to receive and some refunds you are not eligible for.
How Can You Claim ETR?
Firstly, ETR cannot be claimed until the end of the tax year and when you submit your yearly tax return in order to get your tax refunds. All receipts about the schooling costs should be kept so that you can show proof of what you have paid in order to be given any refunds back. Now, it shouldn’t be too difficult to make a claim if you are eligible and there will be a section for ETR.see http://www.independent.ie/world-news/australia-in-talks-to-send-refugees-to-philippines-31595735.html for more information.
Ensure Your Tax Returns Are Completed On Time
If you haven’t filled out the appropriate sections in your tax returns then you may not receive any refunds back. You must fill out the necessary information at the end of the tax year in order to get your refund, if you don’t, the refund may not be given even if you are eligible for the refund. If you need to know more, check out www.taxreturnco.com.au for more information.