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Claiming Education Tax Relief

  • 30-05-2011 12:49PM
    #1
    Yillan
    Registered Users, Registered Users 2 Posts: 932 ✭✭✭


    I'm starting graduate medicine in September. The fees are €15,000 including 2 payments of maybe €6500 and the registration fee of €2000. I see I can only claim €5000 on this and I heard somewhere that this is at the lower rate. Is this correct.

    Does it effectively mean that of the €15,000 I'll pay €10,000 with no relief and get €1000 back on the other €5000?


Comments

  • #2
    mp22
    Moderators, Business & Finance Moderators, Regional South Moderators Posts: 6,854 Mod ✭✭✭✭mp22


    Moved to the taxation forum.


  • #3
    kennyb3
    Registered Users, Registered Users 2 Posts: 6,724 ✭✭✭kennyb3


    Yillan wrote: »
    I'm starting graduate medicine in September. The fees are €15,000 including 2 payments of maybe €6500 and the registration fee of €2000. I see I can only claim €5000 on this and I heard somewhere that this is at the lower rate. Is this correct.

    Does it effectively mean that of the €15,000 I'll pay €10,000 with no relief and get €1000 back on the other €5000?
    20% rate is correct. You are correct re registration fee you cannot claim for them.

    Also just to check is the €15,000 for just one year? If its two or three years you might get more relief.

    This will help.


  • #4
    Yillan
    Registered Users, Registered Users 2 Posts: 932 ✭✭✭Yillan


    Yes it's €15,000 for the year. Is it that I can only claim one €5000 per year? No possibility that I can claim on each payment of €6,500?

    It's a stupid question, but I'm OK with it


  • #5
    kennyb3
    Registered Users, Registered Users 2 Posts: 6,724 ✭✭✭kennyb3


    Yillan wrote: »
    Yes it's €15,000 for the year. Is it that I can only claim one €5000 per year? No possibility that I can claim on each payment of €6,500?

    It's a stupid question, but I'm OK with it

    If you make a payment in 2011 then another in 2012 you can get two sets of relief.

    €5,000 @ 20% in 2011 and €5,000 @ 20% (assuming €5,00 limit still applies) in 2012.

    However you should note when you come around to Oct of 2012 and you pay again - 1st installment of 2nd year you cant claim again as you ll have already reached the ceiling for 2012.

    Thats my take on it anyway


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