Private ruling: Self-education expenses
Date of advice: 18 August 2020
Published: September 2020

Ruling: Q1: Are your course fees for the subjects of the course which you are a full fee paying student an allowable deduction? | A1: 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