Self Education Expenses

Many people look to further their careers by taking on additional training and development over the course of their working lives. This can be in the form of on the job training, development of practical experience and formal education and training.


The latter can lead to the costs of such training being applicable for deduction from income in order to reduce the taxpayers bill for the financial year in question. However, this should not be seen as carte blanche to undertake any course that takes your fancy and the end result is vitally important in order to determine whether the course fees and other related costs are tax deductible.


There are a number of criteria that are applicable, and the following should be noted


  • They must be in relation to your current employment duties
  • They can be in order to increase your chances of getting a promotion
  • They can be in order to earn more salary
  • They can’t be deducted if the course is in order to gain a qualification in a different field
  • They can’t be for a skill that has no relevance to your current employment or duties
  • You can’t claim the first $250 of self-education expenses
  • You can’t claim a deduction under HELP or HECS


In addition, there are a number of facets of the education that you are able to claim:


  • Course or tuition fees
  • Text books and Stationery
  • Travel to and from the venue
  • Costs associated with overseas study tours such as fares, accommodation and subsistence


If you are looking to undertake further study in order to further your career in your current field, it is certainly worth bearing the above in mind when determining whether the cost and effort will yield sufficient benefit