Tax Relief for Tuition Fees
This claim is often overlooked by parents who are paying Undergraduate college student contribution fees for more than one child. It’s a big opportunity for relief, especially if you’re paying fees for more than one child.
For the tax year 2013 and subsequent tax years, the tax relief is allowable on tuition fees including the Student Contribution. Student Contributions replaced Student registration fees which didn’t get tax relief.
How much can be claimed
The maximum amount on which tax relief can be claimed is €7,000.
That’s subject to an amount disregarded as follows:
For the year 2013 no relief will be allowed for the first €2,500 of fees paid for full time courses or the first €1,250 for part time courses.
For the year 2014 no relief will be allowed for the first €2,750 of fees paid for full time courses or the first €1,375 for part time courses.
More than one offspring studying
In the case of parents paying fees for more than one child, there are options.
The total of fees paid are aggregated (subject to the €7,000 cap) and reduced by €2,500. i.e. relief is available in respect of the fees paid for each person up to the maximum limit per person per course.
The tax relief is given by way of a credit equal to the fees paid multiplied by 20%.
Remember to contact the college to obtain a receipt for fees paid.
Approved colleges for tax relief scheme
Not every college is eligible. Revenue have a list of Approved Colleges/Courses online.
You can find more information on qualifying tuition fees and tax relief on Revenue’s Tuition Fee page.