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Madrid families will be able to deduct education expenses from their tax return
Madrid families can ease the cost of the school year through their tax return this year. The Community allows a deduction for part of education expenses, including uniforms, language classes and compulsory schooling.
The measure is applied directly in the tax return and covers three items: 5% of spending on school clothing, 15% on language teaching and another 15% on compulsory schooling, from Early Childhood Education to Basic Vocational Training.
The limits vary according to the type of expenditure and the number of children. For uniforms and languages, the maximum is 412.40 euros per child. If school-fee expenses are included, it can reach 927.90 euros, and in the case of the first cycle of Early Childhood Education, up to 1,031 euros per child.
Not all families can access this deduction. It is aimed at middle- and lower-income households, with a threshold that depends on the size of the family unit. To calculate it, the total taxable base of all members is taken into account.
In a context in which the start of the school year involves significant expenditure, this kind of measure makes a difference to the household budget. Uniforms, books and language tuition cease to be a cost borne entirely by families and receive some tax relief. From now on, the focus will be on how these deductions are applied in the tax campaign and on the extent to which taxpayers make use of them. For many families, it could mean meaningful savings when the tax year closes.