The 60-second guide to... getting tax back on student fees
Published 17/07/2016 | 02:30
The prospect of student loans and higher student fees (one of the proposals put forward in the recent Cassell's report into the funding of third-level education) hasn't gone down well with students or parents. Many parents are already struggling to afford the student contribution charge - which currently stands at €3,000 a year per student. However, if you have more than one child going to college you should be able to get tax relief on the student contribution charge. Here's how to do it.
The tax relief on tuition fees allows you to claim back up to a fifth of the cost of the student contribution charge, but only for any second or subsequent children in third-level education. There is no tax relief on the first €3,000 spent on tuition fees (including the student contribution charge) for full-time students or the first €1,500 for part-timers, so you must have more than one child in college for this tax relief to be worth anything to you.
The tax relief is worth €600 if you had two children in full-time third-level education for the last academic year, as you can claim back a fifth of the €3,000 student contribution charge paid for your second child (assuming you are only claiming tax relief on the student contribution charge and have paid no other tuition fees). You can claim tax relief on the student contribution charge paid each year since 2012, provided you had more than one child in full-time third-level education for each of the last four years. The tax relief is worth €450 to you for 2012 (assuming you had two children full-time in college), €500 for 2013, €550 for 2014 and €600 for 2015.
There is an annual limit of €7,000 on the tuition fees which you can claim tax relief on. To claim the relief, complete the form IT31 and forward it to your local tax office. Should you be self-employed, claim this relief in your annual tax return.
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