Private ruling: Self-education expenses
Date of advice: 29 October 2018
Published: January 2019
Ruling period: Year ending 30 June 20XX
Date scheme commenced: 1 July 20XX

Ruling: Q1: Can you claim self-education expenses for your study? | A1: Yes

Relevant facts and circumstances: You are employed by an organisation. You are studying at a university. Your current position description includes a number of responsibilities relating to your course’s listed subjects such as the following: ● Advise on financial implications of strategic management decisions and establishing financial soundness of proposed business growth opportunities. ● Ensure accurate and timely financial reports and forecasts for the whole organisation so as to provide clear insight into its financial condition enabling high quality and effective decision making. ● Ensure that the profits of the organisation are protected through the establishment of effective budgetary controls and expenditure procedures. ● Implement policies and procedures to ensure the security of funds and assets. ● Model business project outcomes and understand financial implications and financial risk. ● Oversee financial policies and procedures for accurate and consistent recording and reporting of all financial matters. ● Interpret, analyse and present financial and related information to facilitate understanding of options to resolve complex problems and take available opportunities. ● Oversee the management and co-ordination of all fiscal reporting activities for the organisation. ● Analyse cash flow, cost controls, and expenses to guide business leaders. Analyse financial statements to pinpoint potential weak areas and provide options or solutions. ● Ensure compliance with local, state and federal budgetary requirements. ● Support the annual budgeting and action planning process. ● Identifying and assessing all risk and preparing plans to mitigate risk. ● Work with the CEO on strategic vision of the organisation. ● Interact with managers to provide consultative support to planning initiatives through financial and management information analyses, reports and recommends. ● Make financial presentations at board and subcommittee meeting and at periodic meeting of various advisory committees. ● Provide departmental periodic reporting and actual financial performance against budget and evaluation of vacancies. ● Create a high performance culture with a strong team focus. Coach, mentor and develop team members. ● Assist with securing new property and negotiate and manage leases. ● Manage the fleet vehicle program. ● Oversee the insurance requirements of the organisation. ● Oversee Accounts Payable/ Accounts Receivable, purchasing and payroll functions.

Relevant legislative provisions: Income Tax Assessment Act 1997 section 8-1 | Income Tax Assessment Act 1936 section 82A

Reasons for decision: Summary: The self-education expenses, including course fees, incurred in undertaking this program 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. | Detailed Reasoning - Limit to the deductibility of self-education expenses: The self-education expenses you can deduct may be subject to a reduction of $250 in accordance with section 82A of the Income Tax Assessment Act 1936 . An explanation on how this provision operates is provided at paragraphs 119 to 155 of TR98/9.