nuffnang ads

Monday, December 12, 2011

Shouldering the education costs of your children

With the school year rapidly approaching its end I thought this post may be something to start thinking about for next year 

There’s no way of getting around it - children are expensive! When you have children you make a financial commitment to supporting them as they grow up – at the very basic level providing them with food, clothing and shelter. But we all know that the costs of raising children broaden significantly from these essential provisions.
There are birthdays, toys, holidays and mum’s taxi costs to name but a few. There are also significant costs involved in putting your children through school – particularly because a pen and paper won’t cut it anymore. Today, children in the classroom learn on computers, and at the very least all family homes will need a computer that their child can use from home for schooling purposes.
For many parents, these new computing requirements put significant pressure on family budgets. But this pressure can be significantly relieved by firstly renting your child’s computing equipment, and then claiming the Education Tax Refund.
What are the benefits of computer rental              
When you rent a computer, the monthly payments are easier to take on than the significant outright cost of computer equipment. And in an age when computer and laptop technology is constantly evolving and changing, your child won’t be tied to an outdated computer model. Rather, they can constantly update their computer or laptop model throughout their schooling years.
Computer rental payments are also significantly reduced by the Education Tax Refund.
What is the Education Tax Refund (ETR)?
The ETR was introduced by the Australian government to help parents shoulder the education costs of their children. The ETR allows parents or eligible carers to claim up to 50% back on school or education related purchases. These include items such as computers, uniforms and stationary. 
This means that the monthly repayments made on computer rentals can be reduced by up to half, and giving your child access to the latest technology and up-to-date technology doesn’t have to blow the whole family budget.
There are a number of cost-cutting ways to make ends meet when it comes to bringing up and educating your children. As the new school year fast approaches, perhaps computer rental and the Education Tax Refund can save your family a few pennies!

this is a guest post brought to you in collaboration with Rentsmart


Tina ~ Tina Gray {dot} Me said...

Some interesting info there, Erin. I didn't realise that I could claim computer rental fees. Good to know. I'm also glad that uniforms are now included in the list of things that can be claimed back.

LisaW said...

I'll have to see if we qualify! It's costing me a fortune sending my kids to their school. Thanks for sharing Erin.

Kate @ Puddles and Gumboots said...

I'm a big fan of the education tax refund system, its a great way to help families with the costs of school

AlyceB said...

Huh, well there you go!!

Norlin said...

Oh! New thing I just learned to get some money back! Great post and thanks for sharing, have to let my hubby know about this.

Kirsty@MummytoFive said...

Thanks for sharing that info Erin! With 5 kids in school over the next few years, I need all the money I can get back, back!!

AMA said...

Yeah I 'm ware of what you are talking about. Sigh