Opinons about St' Catherine's school

Hi Yiannis,

the tax deductable amount is up to a maximum of 1400 € for private school fees from your income and not from your tax bill.

Private school fees are more than 1400 €/year and the tax rate is between 15 and 35 % so the deductable  will not nearly cover the actual fees.

Cheers
Ricky

Hi Ricky, according to the St' Catherine's papers the TAX rebate is:
1. Kinder level: 1300 per student per annum
2. Primary level: 1600 per student per annum.
3. Secondary level: 2300 per student per annum.

That makes me think that if you have 2 kids it is x2 the figures. However, let's for a minute assume that it is max 1400 to simplify the case. If my salary is 33K then the taxes are roughly 7000. It is my understanding that the tax rebate will be 7000 - 1400 = 5600 taxes. Am I missing something?

Going back to the max 1400. If the max is 1400 then where does the 1600 apply and where does the 2300 for secondary level apply?

Yiannis

Hi Yiannis,

the figures you quote are correct for 2012. They were increased !

So the calculation is your salary 33 k - 1600 or 2300 = 31.400 or 30.700 € and then the tax calculation !

The deduction is for each child and will not cover anywhere near the actual costs.

Cheers
Ricky

So in my case we have two kids, one kinder one primary = 2900.

So I am going to be taxed on 33K - 2900 = 3100 which as you said is nowhere near the total amount of fees but it is close enough to saving around 80% of one kid's fees.

Thank you
Yiannis