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Merry Christmas to all our clients, your staff, family and friends
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Education Tax Refund Replaced by 'School Kids Bonus'
Education Tax Refund Replaced by 'School Kids Bonus'

The recent Federal Budget removed from the income tax return, the Education Tax Refund and substituted a direct payment.

 Eligible families will receive two equal instalments in January and July each year, beginning January 2013.

Each child in primary school will be eligible for $410 and each child in high school will be eligible for $820.

 



There is no requirement to complete any tax schedules nor retain any evidence of expenditure.

Eligibility for the payment will occur where children are enrolled and attending school and are receiving Family Tax Benefit Part A or would be eligible for Part A, if it were not for some other qualifying income support payments or allowances under a prescribed education scheme.

As part of the transition the (old) Education Tax Refund for 2011-12 was paid in full as a lump sum payment between 20 and 29 June 2012 to eligible families.

If eligibility is uncertain, and you did not receive any payment, registration for the Family Tax Benefit Part A is worth investigating.  The transitional rules are complex, with eligibility determined by the family circumstances on the 8th May 2012.  

Eligibility for the Schoolkids Bonus will be based on entitlement to one of the following payments:-

 

  • Family Tax Benefit Part A
  • Youth Allowance
  • ABSTUDY
  • Disability Support Pension

Some families will need to advise that their child has started primary or secondary school to receive payment.

The Department of Human Services is the new agency (was Centrelink) to contact.

 

 

 

 

 

 

 

 



4th-October-2012

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