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Education Tax Refund
For the Australian Government’s fact sheet on the Education Tax Refund, please click here.
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Further information can be found at: www.ato.gov.au
RentSmart is the simple way to get the latest technology for your kids. Plus benefit from the Education Tax Refund over the useful life of the equipment
RentSmart Advantage Example
- Mr Smith decides to rent a $1200 computer for his son, who is studying in Secondary Education.
- At an approximate monthly cost of $49, he should be able to claim up to $294 each year of a four year rental contract, which means in reality his payments each month are effectively halved ($24.50)
- Over the duration of the contract Mr Smith could effectively claim back $1,176 on his payments.
- That's great for his cashflow, and also means he could end up paying less than the original purchase value*
The chart below provides a visual example of this versus a cash purchase:
* Inclusive of 50% education tax refund up to a maximum offset of $1500 per year. Other criteria apply to the offset, which you must meet. The application of the offset will depend on your particular circumstances and you should take appropriate advice.
RENTSMART. It's the smart way to pay for technology
