If you're in dire need of an increase on your balance or you've dipped into that student overdraft then look no further.
Apparently, Irish students are the worst at claiming back tax. According to DIT (Dublin Institute Of Technology), less than 12% of students claim back tax.
At just 7%, full-time undergraduates are even likely to claim back tax. Students are eligible to claim a tax relief of €7,000 per course.
DIT's annual Cost of Living Guide released the information today and Head of Campus Life, Dr. Brian Gormley, spoke about the importance of students taking advantage of tax relief, specifically students starting college in September:
...If you are paying for more than one student in full-time education, you can claim tax relief on the student charge for the second or subsequent children. Also, if you are paying tuition fees, either for a post-graduate programme, a part-time programme or for repeating the year, you may be entitled to tax back. We estimate that Irish families are missing out on millions of unclaimed tax relief.
Depending on who paid, students or their parents can apply for the relief. Parents who are paying for more than one student to complete their course will be given a disregard fee. The disregard fee can be up to €3,000 which means that if you paid €3,000 for fees your disregard fee is €3,000 which means you're owed nothing. If you've paid more than €3,000 you're entitled to tax relief.
To learn more about third-level tax relief click here.