August 2, 2013
Deferral of self-education tax change positive
The Innovative Research Universities is pleased that the Government has accepted that limiting deductions for self-education expenses to $2000 would have significant, unplanned impact on skills across many professions.
Professional education does not end at graduation. Extensive ongoing education is necessary for skills and knowledge to maintain pace with changing practice and to retain accreditation.
“The government’s deferral of the cap on tax deductions for education expenses allows us time to ensure legitimate self-education expenses, including all course fees, remain tax deductible while removing scope to claim excessive travel and accommodation costs to the extent that this is currently permitted,” said Professor Barney Glover, Vice-Chancellor of Charles Darwin University and Chair, Innovative Research Universities.
“Governments should encourage Australians to further their education. The self-education deduction is one element in doing so. To cap it sends the wrong message.”