Tax relief is available on fees paid for approved Third Level, Foreign Languages and Information Technology courses as long as you have paid the fee for yourself or on behalf of another person, this includes;
- Tuition Fees &
- Student Contribution for 2nd and subsequent student in the same year
It’s not available for;
- Examination or administration fees
- Any part of the tuition fees that is covered by a grant or scholarship or where the fees are reimbursed by an employer.
How is it calculated?
Relief is granted per student, per course, per academic year and is allowed at the standard rate of income tax i.e., 20%. There is no limit on the number of people you can claim for.
- Capped @ €7,000
- Deduct; Full-Time Course – €3,000 / Part-Time Course – €1,500
- Relief @ 20%
|Full Time Course Fee||€9,000|
|Relief capped @||€7,000|
|Tax Relief @ 20%||€4,000|
Paying fee’s in instalments?
If you are paying the fees in instalments and any amount is paid in the tax year following the year in which the academic year commenced, the relief for fees relating to that academic year may be granted either;
- In the tax year during which the academic year commenced or
- In the tax year in which the instalment was paid
The above article is for general use only and does not constitute advice. It is accurate based on date of publication and further clarification on possibly rule changes should be sought. If we can we be of further assistance, please do not hesitate to contact us.