This is the first in a three-part question-and-answer series provided by PricewaterhouseCoopers for The Star readers on various aspects of Budget 2006. The next two articles will appear in StarBiz Monday and on Tuesday.
Q: I have two children aged 15 and 21 years old. My older child is currently studying at the University of Sydney, Australia. I understand that the child relief has been increased in the recent budget. How does that apply in my circumstances?
A: Under the current legislation, each individual taxpayer is entitled to child relief as follows: