SELF EDUCATION
Can i claim my Self Education costs as a tax deduction?
Self-education expenses are deductible when the course you undertake leads to a formal qualification and meets the following conditions.
The course must have a sufficient connection to your current work activities as an employee and:
- maintain or improve the specific skills or knowledge you require in your current work activities or
- result in, or is likely to result in, an increase in your income from your current work activities.
You cannot claim a deduction for self-education expenses for a course that does not have a sufficient connection to your current work activities even though it:
- might be generally related to it, or
- enables you to get new employment
What expenses can be claimed as Self Education?
- accommodation and meals (if away from home overnight)
- computer consumables
- course fees
- decline in value for depreciating assets (cost exceeds $300)
- purchase of equipment or technical instruments costing $300 or less
- equipment repairs
- fares
- home office running costs
- interest
- internet usage (excluding connection fees)
- parking fees (only for work-related claims)
- phone calls
- postage
- stationery
- student union fees
- student services and amenities fees
- textbooks
- trade, professional, or academic journals
- travel to-and-from place of education (only for work-related claims).
What cannot be claimed as Self Education?
- repayments of Higher Education Loan Program (HELP) loans (although the fees paid by some HELP loans are)
- Student Financial Supplement Scheme (SFSS) repayments
- Student Start-up Loan (SSL) repayments)
- Trade Support Loan Program (TSL) repayments
- home office occupancy expenses
- meals (unless sleeping away from home).