Grandparents often foot the bill for private school fees but there are options

Grandparents often foot the bill for private school fees but there are options

Over the past 20 years private school fees have risen by more than double the rate of inflation, with the most prestigious grammar schools costing well into the $40,000 range for year 12 and some above $50,000. Remembering that school fees are not tax ­deductible, a family with two children in private schools on the highest marginal tax bracket needs to generate pre-tax income of close to $200,000 a year just to pay school fees before even think…

Grandparents paying school fees? Legal expert warns of unintended consequences - IFA Magazine

In this analysis, Alice Edwards, Associate, at law firm Winckworth Sherwood, highlights some unintended and unwelcome consequences that might arise in cases where grandparents are picking up the tab for their grandchildren’s school fees. With the hike in school fees following the government’s decision to impose VAT from the start of this year, more young families than ever will be looking to grandparents for help. For asset-rich retirees, the be…