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Edited version of private advice
Authorisation Number: 1051628975907
Date of advice: 27 January 2020
Ruling
Subject: Income tax - self-education expenses
Question
Are you entitled to a deduction for self-education expenses?
Answer
Yes. Your self-education expenses are deductible, as it is accepted the study meets the requirements detailed in Taxation Ruling TR 98/9. Further information about self-education expenses can be found by searching 'QC 31970' on ato.gov.au
This ruling applies for the following periods:
Financial year ending 30 June 20XX
Financial year ending 30 June 20XX
Financial year ending 30 June 20XX
The scheme commences on:
1 July 20XX
Relevant facts and circumstances
You commenced work at Company ABC in 20XX.
You started a Master of Business Administration course in 20XX.
You finished the course in 20XX.
The total cost of the course was $XX.
The course helped you improve specific skills and knowledge in your current role and also enabled you to step up into various secondment roles.
Key areas of responsibility in your role included finance, accounting, management communication, economics, and marketing.
The subjects you were required to complete for the course include Marketing, Economics and Quantitative Analysis, Accounting for Managers and Management Communication.
After you completed the course in you ceased employment with Company ABC as you wanted to progress your career in the financial services industry.
You then commenced a new National Manager of Key Accounts role with Company XYZ.
Relevant legislative provisions
Income Tax Assessment Act 1997 section 8-1