Hey there fellow Irish students! If you’re reading this, you’re probably wondering if you’re eligible for a tuition fee refund.
The Tuition fees tax credit has many restrictions and eligibility criteria that need to be confirmed, so if you do not have time or choose to go the hassle-free way, we are here to help you. Keep reading to find out more!
Eligibility for Tuition Fee Refunds
To be eligible for a refund, you need to have paid tuition fees for a third-level course. This can be any kind of course – full time, part time, undergraduate, postgraduate, or even certain vocational courses.
If you earned more than 17,000 euro in 2022, and paid the Tuition fees yourself, we can claim them against your taxes.
If you earned less than 17,000 euro in 2022, and your parents paid the Tuition fees, your parents can claim the fees against their taxes.
Top Tax Tip
It may make more sense for your parents to pay and claim for your Tuition fees rather than you! See our real life example below to see how if you have a sibling in college allow, it’s likely your parent will get a higher refund
You may not be due a tax refund for your tuition fees – but your parents could!
Maximising Your Refund
There are certain thresholds, set by Revenue when claiming the Tuition fee refund. The maximum amount you can claim is €7,000 per course, per person, per academic year. However, each claim is subject to a single disregarded amount. The first €3,000 is disregarded for a full-time student or €1,500 for a part-time student.
Gathering the Necessary Documents
Once we confirm that you’re eligible, and you paid enough income tax, you will only need to supply an invoice confirming the amount of Tuition fee paid, Academic year, Name of college/university and the name of the course attended.
Submitting Your Tax Return Form
Next up, it’s time to complete your tax return form. We know, taxes can be a bit daunting, but don’t worry, you don’t have to do it alone!
Once your data is gathered, it’s time to submit it to Revenue. We will take care of this process. And then, the waiting game begins. Revenue will calculate your refund and then we will issue it to you. It usually takes a few weeks to receive your refund, but it’ll be worth it in the end.
Real Life Example
If a parent is paying third level tuition fees for two or more children, the disregard amount only relates to one third level tuition fee. For example if a parent is paying for two college tuition fees, the first one amounting to €5,000 and the second one amounting to €4,000, only €3,000 will be disregarded from one fee leaving the parent eligible to claim back 20% of €6,000. In this example the parent will receive €1,200 as a tax refund.
Get Help with Your Tuition Fee Refund
So, there you have it – a simple, step-by-step guide on how to claim your tuition fee refund in Ireland. And remember, Red Oak is here to help you along the way. We understand that taxes can be confusing, especially for students, but don’t worry, we’ve got your back! If you need assistance or have any questions, don’t hesitate to reach out to us. You can learn more about claiming tax refunds on our website: Max Your Tax Refund with Red Oak
SETU on placement with Red Oak Tax Refunds