Emmet Stagg
Question:69 Deputy Emmet Stagg asked the Minister for Finance when a Med 1 refund will issue to a person (details supplied) in County Kildare. [28531/08]
View answerThursday, 10 July 2008
Questions (70, 71)
Written answers
I have been advised by the Revenue Commissioners that a PAYE balancing statement 2007, incorporating relief due for health expenses, will issue to the taxpayer in the coming days together with cheque in settlement.
Ruairí Quinn
Question:70 Deputy Ruairí Quinn asked the Minister for Finance his views on extending tax relief on third level fees to the 8,500 students of the Open University; and if he will make a statement on the matter. [28807/08]
View answerSection 473A of the Taxes Consolidation Act 1997, provides for tax relief at the standard rate of income tax (20%) for qualifying fees paid by an individual in respect of a third level education course.
Qualifying fees means tuition fees paid for an approved course at an approved college. The maximum amount of qualifying fees on which tax relief is allowed is €5,000 for the academic years 2006/2007 and 2007/2008.
The tax relief is confined to tuition fees only and does not extend to items such as registration fees, administration fees, accommodation, etc. Tuition fees that are, or will be, met directly or indirectly by grants, scholarships, employer contribution or other means are to be deducted in arriving at the net fees qualifying for tax relief.
An approved course means either:
(a) a full-time or part-time undergraduate course of study of at least 2 academic years duration at an approved college; or
(b) a postgraduate course of study leading to a postgraduate award, based on a thesis or on the results of an examination or both, at an approved college of not less than one academic year, but not more than 4 academic years in duration that requires an individual, undertaking the course, to have been conferred with a degree or an equivalent qualification.
Under the relevant legislation, the approval of colleges for the purposes of obtaining tax relief on third level education fees is granted by the Minister for Education and Science, with the consent of the Minister for Finance. The Open University is already such an approved college and tax relief is already available for approved courses at that college.