Individuals who partake in self-education may be able to claim a deduction for their expenses if the education is related to their work or if they receive a taxable bonded scholarship.
Courses eligible for claim
You are only eligible to receive a deduction if the course has a sufficient connection:
- To your current role and maintains or improves specific skills and knowledge that are required for your current role.
- Results in, or will most likely result in a pay rise from your current place of employment
Courses ineligible for claim
The type of self-education courses that do not qualify for deduction include:
- Ones only generally relates to your current role or profession
- Ones which will allow you to transfer into a new role
Course expenses covered
If the course is eligible, then you will be able to claim against:
- Tuition fees (if you pay them, not if somebody else pays them)
- Computer consumables
- Trade, professional or academic journals
- Home office running costs
- Internet usage
- Phone calls
- Student services and amenities fees
- Travel costs (such as car expenses, between home and place of education, between workplace and place of education – but conditions apply to this)
- Fees payable on some Higher Education Loan Program (HELP) loans (but not the loan itself).