Self-Education Expenses

Self-Education Expenses


Individuals who partake in self-education may be able to claim a deduction for their expenses if the education is related to their work or if they receive a taxable bonded scholarship.

Courses eligible for claim

You are only eligible to receive a deduction if the course has a sufficient connection:

  • To your current role and maintains or improves specific skills and knowledge that are required for your current role.
  • Results in, or will most likely result in a pay rise from your current place of employment

Courses ineligible for claim

The type of self-education courses that do not qualify for deduction include:

  • Ones only generally relates to your current role or profession
  • Ones which will allow you to transfer into a new role

Course expenses covered

If the course is eligible, then you will be able to claim against:

  • Tuition fees (if you pay them, not if somebody else pays them)
  • Computer consumables
  • Textbooks
  • Trade, professional or academic journals
  • Stationery
  • Home office running costs
  • Internet usage
  • Phone calls
  • Postage
  • Student services and amenities fees
  • Travel costs (such as car expenses, between home and place of education, between workplace and place of education – but conditions apply to this)
  • Fees payable on some Higher Education Loan Program (HELP) loans (but not the loan itself).

https://www.ato.gov.au/Individuals/Income-and-deductions/Deductions-you-can-claim/Self-education-expenses/

Categories

If you believe the matters discussed above are relevant to your business, please contact Darren Smith of our office to discuss further.


Darren is a Chartered Accountant with extensive experience, including working in the big 4 and medium sized firms before becoming a partner of a city based firm in 2000.

He has gained much experience and has extensive knowledge in providing business and taxation advice, superannuation planning, negotiation of sales and acquisitions of businesses and property development. His client base covers a wide range of industry groups.

Darren works with business owners to grow their businesses and create personal wealth within and outside of their business.


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