There are plenty of options to claim and maximize your tax return. Here are 10 things that you can claim while returning your tax to get the maximum return. But can you claim your college or university tuition fee on your tax return? This is one of the main confusion for students. The shocking part is that many students do not know that they can claim that.
- Yes, you can claim your tuition fee but conditions apply.
- The course should have a connection to your employment.
- You can claim it under the self-education expenses topic.
- Here are the things you need to know to claim your study fee on your tax return.
If you are working and undertaking a course that is related to your current employment then you might be eligible for it. The course must have a sufficient connection to your work. That course must improve the skill required for your work. If it also helps to increase your income from the current job then it also falls under eligibility criteria. You can not claim if the course is too general to your employment. Also, you must work and study at the same time to claim your fee on your tax return.
Many students who study subjects like hospitality, culinary art, health care, accountant, etc could be eligible if working in the related field. Here are some examples to understand better to claim your tuition fee on your tax return.
Example 1:
Punaa is an age care work and she is studying disability support course. The course has a sufficient connection to her employment. She can claim her tuition fee on her tax return.
Example 2:
Rikesh works as a waiter in a restaurant. He is undertaking a diploma in cookery. The connection between his work and study in general. So, he can not claim it.
What are the things you can claim under self-learning deduction?
- Tuition fee
- Computer expenses(depends on use)
- Photocopy
- Student union fee
- Student services and amenities fees
- Textbook and stationary
- Accommodation and meal(if you require to travel away)
Proof of purchase is necessary to obtain a university student tax deduction. Keeping your paper or electronic receipts or invoices for any study-related products you pay for is usually all that is required. You can calculate your self deduction fee from HERE.
