Education tax refund - what you need to know

Warning: This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

Shared care of child or agreed percentage

If you have both shared care and agreed percentage for the eligible child, you need to use the Education tax refund calculator.

Otherwise, you can use the following steps to work out your ETR.

Step 1

Work out your total eligible education expenses

$

A

Step 2

Multiply A by your agreed percentage

$

B

Step 3

Calculate the maximum tax offset amount for this child

$

C

Step 4

How many days in the year were your eligible?

$

D

Step 5

Multiply D by your shared care and agreed percentage

E

Step 6

Work out the maximum tax offset amount for this child (C x E) divided by 365 - round to two decimal places

F

Step 7

Repeat Steps 3 to 6 for each child

Step 8

Add the amounts from F for each child

$

G

Step 9

Include excess eligible expenses carried forward from the previous year

$

H

Step 10

Add B and H

$

I

Step 11

Multiply your expenses from I by 50%

$

J

Step 12

Use the lower of G or J
Write the amount at K on your tax claim

$

K

Sections within How much you can claim

Last Modified: Thursday, 17 January 2013