| Disclaimer You cannot rely on this record in your tax affairs. It is not binding and provides you with no protection (including from any underpaid tax, penalty or interest). In addition, this record is not an authority for the purposes of establishing a reasonably arguable position for you to apply to your own circumstances. For more information on the status of edited versions of private advice and reasons we publish them, see PS LA 2008/4. |
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