Schoolkids Bonus – coming to bank accounts soon

In news just in from the Australian Government, the second instalment of the Schoolkids Bonus for 2013 will be paid in July to lighten the load of mid-year education expenses.

The Schoolkids Bonus replaces the old Education Tax Refund.  The same families are eligible, but there’s no need to keep your receipts and claim them separately, the money will just appear in your bank account

Centrelink customers will be paid from 4 to 17 July (note, the payment will not appear in your Online Services account until the day it is made) and DVA (Department of Veterans Affairs) customers will be paid from 8 July.

If you receive Family Tax Benefit as a lump sum the Schoolkids Bonus will be paid after your Family Tax Benefit claim is assessed. If you haven’t received your payment by 18 July, but think you’re eligible, Centrelink recommends you get in touch.

For those who don’t know much about the Schoolkids bonus, here’s a little info.

How much is it?

  • $410 a year for each primary student ($205 paid in January and $205 paid in July)
  • $820 a year for each secondary student ($410 paid in January and $410 paid in July).

Who is eligible for it?

If you are receiving Family Tax Benefit Part A, and have school aged children, you should be either receiving it or clicking here to find out more.

Can I still claim school uniforms on my tax?

Unfortunately not.  The Schoolkids bonus is a replacement payment and therefore uniforms can no longer be claimed on tax.  The upside is you don’t need to keep receipts any more.

How can I spend it?

However you like.

How do I apply to receive it?

Contact Centrelink or click here.

Where do I get more information?

Try the government website here

What will you spend your bonus money on?

Kirsten

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One response to “Schoolkids Bonus – coming to bank accounts soon

  1. Pingback: Taxes | Rafferty's Rules

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