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Edited version of private advice
Authorisation Number: 1051735632160
Date of advice: 18 August 2020
Ruling
Subject: Self-education expenses
Question
Are your course fees for the subjects of the course which you are a full fee paying student an allowable deduction?
Answer
Yes. Your expenses meet the requirements in Taxation Ruling TR 98/9 Income tax: deductibility of self-education expenses incurred by an employee or a person in business and are an allowable deduction under section 8-1 of the Income tax Assessment Act 1997.
Relevant facts and circumstances
You are employed as a professional.
You have been in this role for a number of months.
You commenced the course in 20XX.
You initially deferred your course costs under HECS.
You are now a full fee paying student for the remaining subjects.
You completed several subjects in 20XX and have a number of subjects to complete.
The subjects that you have left to complete are:
· Business Policy and Strategy
· Financial and Management Accounting for Business
· Economics for Managers
· Natural Resources Economics
· Strategic Operations Management
· Corporate Finance for Managers
All of the subjects have the relevant connection with your current employment
Relevant legislative provisions
Income tax Assessment Act 1997 section 8-1
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