Knowledge is priceless - but is it deductible for an individual?
University, TAFE, RTOs, short courses, seminars... are deductible to the extent that they are incurred in gaining or producing your assessable income, and to the extent they are not reimbursed.
What does this mean?
The key element is the connection between your activities (your role, tasks, responsibilities, duties) in producing income at the time of the education expense, and the contents of the course.
If you're not yet working in the same role or industry as your studies, the link is not there to allow for the deduction. If you're studying for a career change or promotion with a major shift in the day-to-day of the role, we commend you - but we can't claim the expense.
Solidifying your skills for progression within the same kind of role is where you'll have education expenses we can claim.
If you'd like advice on your specific situation - please reach out!
You may like to do some further study with an earlier Bulletin - Education Expenses, Easy as A, B, C!
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