Question: Our child is entering their second year of college this September and the costs are a massive concern for us this year. Between tuition fees, finding accommodation, and daily expenses, it’s all adding up quickly.
We run a family farm, and we’re wondering what tax reliefs or supports are available to help us manage? When our child is home at weekends, they work with us on the farm – can we pay them a salary?
Are there grants or supports for renting? Any advice would be welcome.
Answer: When your children head off to college, it’s a proud moment, but there’s no denying the financial strain it puts on the family. Tuition fees, accommodation, travel, and daily living expenses can quickly stack up – and for many, these costs can feel overwhelming.
Remember, this is a family effort. Whether it’s commuting, paying a fair wage for farm work, or finding the right grant, there are plenty of ways to lighten the load. With a bit of foresight, you can help your child focus on their studies while keeping the farm running smoothly and managing the financial burden.
Finding accommodation
Accommodation is the trickiest part of the equation these days. Rents are sky-high, and finding a suitable place can feel like a full-time job. For families renting on behalf of their children, there’s a bit of relief in the Rent Tax Credit. You can claim up to €500 per year (€1,000 if you’re jointly assessed). Ensure the lease is in your name or your child’s name and remember to keep all receipts and agreements safe for Revenue.
If your farm is close enough to the college, commuting might be worth considering. It saves on rent entirely, and while fuel and transport costs are rising, they’re still more manageable than city rents. Many families in similar situations find carpooling with other students or families nearby to be a cost-effective solution.
For those further afield, alternative options like host families or sharing larger properties with other students can bring costs down. Don’t be afraid to ask around in the local area or on college noticeboards – word of mouth often uncovers opportunities that aren’t advertised.
Support from SUSI Grants
The Student Universal Support Ireland (SUSI) Grant is a key resource for college families. While it’s means-tested, farming families can benefit from allowances for farm-related expenses and deductions if other siblings are in college.
It’s also worth noting that changes in income – such as a poor year for the farm – can impact eligibility, so if you don’t qualify now, it’s worth reassessing if your circumstances change. Getting your application in early is essential, as delays can cost you in more ways than one.
Paying a wage for farm work
If your child is helping out on the farm, paying them a wage is fair and smart from a tax perspective. This must be for genuine work, like milking, cleaning sheds, fencing maintenance or similar work. If they earn below €16,500, it will be tax-free if they don’t have any other income, and as parents, you can claim the wages as a legitimate expense.
Ensure everything goes through the PAYE system to keep it transparent. Keep clear records of hours worked and completed tasks. This is an excellent way to ease the financial strain.
Relief on tuition fees
Relief is available for eligible tuition fees, including the student contribution charge (up to €3,000 per year). You can claim tax relief on the amount exceeding €3,000 per student, up to a maximum of €7,000 annually.
If you have multiple children in college, this relief can add up quickly. Make sure to keep receipts and payment records to ensure you can claim this relief when filing your tax return.
Planning ahead
For families with younger children who will be heading to college in the next few years, now is the time to start thinking ahead and get planning.
The cumulative costs can be spread over several years, and how you structure your finances – particularly farming income – can impact eligibility for grants and tax reliefs.
Talk to your accountant about how best to prepare, whether setting aside savings, managing income streams, or taking advantage of farm-specific reliefs.
Marty Murphy is head of tax at ifac, which is the professional services firm for farming, food and agri-businesses.
Rent Tax Credit – claim up to €500 (€1,000 for joint assessment) for rental expenses.SUSI Grant – Means-tested support with allowances for farm expenses and multiple students.Farm wages – Pay your child a tax-free salary (up to €16,500) for genuine farm work.Tuition Fee Relief – Claim tax relief on tuition fees above €3,000, up to €7,000 annually.
Question: Our child is entering their second year of college this September and the costs are a massive concern for us this year. Between tuition fees, finding accommodation, and daily expenses, it’s all adding up quickly.
We run a family farm, and we’re wondering what tax reliefs or supports are available to help us manage? When our child is home at weekends, they work with us on the farm – can we pay them a salary?
Are there grants or supports for renting? Any advice would be welcome.
Answer: When your children head off to college, it’s a proud moment, but there’s no denying the financial strain it puts on the family. Tuition fees, accommodation, travel, and daily living expenses can quickly stack up – and for many, these costs can feel overwhelming.
Remember, this is a family effort. Whether it’s commuting, paying a fair wage for farm work, or finding the right grant, there are plenty of ways to lighten the load. With a bit of foresight, you can help your child focus on their studies while keeping the farm running smoothly and managing the financial burden.
Finding accommodation
Accommodation is the trickiest part of the equation these days. Rents are sky-high, and finding a suitable place can feel like a full-time job. For families renting on behalf of their children, there’s a bit of relief in the Rent Tax Credit. You can claim up to €500 per year (€1,000 if you’re jointly assessed). Ensure the lease is in your name or your child’s name and remember to keep all receipts and agreements safe for Revenue.
If your farm is close enough to the college, commuting might be worth considering. It saves on rent entirely, and while fuel and transport costs are rising, they’re still more manageable than city rents. Many families in similar situations find carpooling with other students or families nearby to be a cost-effective solution.
For those further afield, alternative options like host families or sharing larger properties with other students can bring costs down. Don’t be afraid to ask around in the local area or on college noticeboards – word of mouth often uncovers opportunities that aren’t advertised.
Support from SUSI Grants
The Student Universal Support Ireland (SUSI) Grant is a key resource for college families. While it’s means-tested, farming families can benefit from allowances for farm-related expenses and deductions if other siblings are in college.
It’s also worth noting that changes in income – such as a poor year for the farm – can impact eligibility, so if you don’t qualify now, it’s worth reassessing if your circumstances change. Getting your application in early is essential, as delays can cost you in more ways than one.
Paying a wage for farm work
If your child is helping out on the farm, paying them a wage is fair and smart from a tax perspective. This must be for genuine work, like milking, cleaning sheds, fencing maintenance or similar work. If they earn below €16,500, it will be tax-free if they don’t have any other income, and as parents, you can claim the wages as a legitimate expense.
Ensure everything goes through the PAYE system to keep it transparent. Keep clear records of hours worked and completed tasks. This is an excellent way to ease the financial strain.
Relief on tuition fees
Relief is available for eligible tuition fees, including the student contribution charge (up to €3,000 per year). You can claim tax relief on the amount exceeding €3,000 per student, up to a maximum of €7,000 annually.
If you have multiple children in college, this relief can add up quickly. Make sure to keep receipts and payment records to ensure you can claim this relief when filing your tax return.
Planning ahead
For families with younger children who will be heading to college in the next few years, now is the time to start thinking ahead and get planning.
The cumulative costs can be spread over several years, and how you structure your finances – particularly farming income – can impact eligibility for grants and tax reliefs.
Talk to your accountant about how best to prepare, whether setting aside savings, managing income streams, or taking advantage of farm-specific reliefs.
Marty Murphy is head of tax at ifac, which is the professional services firm for farming, food and agri-businesses.
Rent Tax Credit – claim up to €500 (€1,000 for joint assessment) for rental expenses.SUSI Grant – Means-tested support with allowances for farm expenses and multiple students.Farm wages – Pay your child a tax-free salary (up to €16,500) for genuine farm work.Tuition Fee Relief – Claim tax relief on tuition fees above €3,000, up to €7,000 annually. 
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