| 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: 1052045272415
Date of advice: 13 October 2022
Ruling
Subject: Deductions - self-education expenses
Question
Are your self-education expenses deductible?
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 ended 30 June 20XX
Financial year ended 30 June 20XX
The scheme commences on:
1 July 20XX
Relevant facts and circumstances
Since XX/20XX, you have worked as a Restaurant Venue Manager for an employer that owns several high end restaurants. You originally performed this role for a single venue before being made responsible for multiple venues. In this role, you have been responsible for the financial management of restaurants and your duties have included:
• Cost of goods control
• Labour management
• Labour planning
• Budgeting
• Financial forecasts
• Guiding projects towards strategic success.
Several months after commencing your venue management role you commenced your Master in Business Administration (Finance). Your employer has supported and encouraged you in your studies. Your course covers the following units:
• Leadership
• Marketing Management
• Strategic Human Resource Management
• Operations Management
• Financial Management
• Strategic Management
• Project Management
• Corporate Finance
• Corporate Governance
• Financial Markets and Institutions
Your course has allowed you to move to a more corporate role with your current employer where you oversee the financial operations of multiple venues, and you are hopeful this will lead to an increase in your salary.
Relevant legislative provisions
Income Tax Assessment Act 1997 section 8-1