1 Apr 2015
Some subsidies may help with children in public or private school.
Most parents would agree that sending children to school can be costly. Whether your children attend a public or private school, costs for uniforms, stationery and transport add up throughout the year.
Thankfully, the federal and state governments provide refunds and payments to help ease the financial burden of putting children through school.
We’ve put together a list of some of the subsidies available that you may be eligible for.
Schoolkids Bonus
The Schoolkids Bonus is a payment from the Federal Government to a parent or carer receiving Family Tax Benefit Part A for a dependent child in primary or secondary education. It provides $422 a year for each child in primary school and $842 for each child in secondary school.
This year, from 1 January 2015, payments will be subject to an income test and will only be payable to families with an adjusted taxable income of $100,000. You can find out more about eligibility at the Department of Human Services.
Assistance for isolated children
If you have a child at primary or secondary school-age who can’t go to a state school because of geographical isolation, disability or health reasons, the Assistance for Isolated Children scheme may provide tax-free payments exempt from income and assets tests. Find out more at the Department of Human Services.
Getting to and from school
Daily school-travel costs can add up year upon year. Make sure you know about the public transport concessions available in your state. Some states allow children to travel free while others offer discounted fares and rules, and conditions can change from year to year.
For more details on the School Student Transport Scheme (SSTS), please refer to the NSW public transport website
Find out more
Make sure you’re making the most of the payments and subsidies you may be entitled to, because every little bit helps when the cost of raising kids is ever-increasing.
To speak with a PSK Financial Adviser about ways you can ensure you can provide your children with the education you desire, you canmake an appointment,email us;or phone us on 02 9324 8888.
