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Self-Education Expenses Capped

The Government announced its intention to limit the allowable deduction for self-education expenses by individual taxpayers. From 1 July 2014 it will be capped at $2,000 per annum.

The limit will apply to all self-education expenses such as tuition, books, courses, computer equipment as well as travel and accommodation relating to things such as seminars and courses.

The proposal is far reaching and will impact individuals wanting to improve their professional qualifications. Small businesses can continue to help staff with additional training and skills by offering to pay for any courses or tuition for staff making them exempt from the caps. However if staff salary sacrifice to pay for training courses it will be considered a fringe benefit and subject to fringe benefits tax.

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