An individual can claim tax relief on tuition fees in Ireland for certain full-time and part-time undergraduate courses of at least two years duration.
What tax relief can be claimed on tuition fees?
Tax relief is available at the standard rate of income tax (20%) for qualifying tuition fees. The maximum limit on such qualifying fees is €7,000 per academic year, per individual course. The relief can be claimed by an individual who pays fees to publicly or privately funded third level colleges for themselves or any other individual.
What fees qualify?
Qualifying fees means tuition fees but not examination fees, registration fees or administration fees, in respect of an approved course at an approved college.
For the tax year 2015 onward the first €3,000 of fees paid for full-time courses and the first €1,500 paid for part-time courses will be disregarded from fees paid before tax relief is applied. It is important to note that tax relief is only available for the amount paid after the disregarded amount. So if you only incur €4,000 for a full-time course in qualifying fees, you subtract the disregarded amount from this of €3,000 and you claim tax relief on the excess, €1,000 at the 20% rate, therefore €200 tax relief is available.
Remember if you are a parent paying tuition fees for a child you can also claim tax relief. To discuss tax relief on tuition fees in Ireland in further detail book a call or email email@example.com