Enhancing your industry knowledge and skills is always a good thing. And it’s even better when you discover training tax deductions!
Did you know you could potentially claim your next course at tax time? Enrol in a course that is relevant to your work before June 30 and it can count as a work-related expense.
According to the Australian Tax Office (ATO), there is a range of self-education expenses you can claim if you fit in to one of these categories:
- Your course is related to your current employment
- Your course is likely to result in an increase in your income from your current employment
Study-related expenses at tax time
If you currently work in early childhood education and enrol in a Practical Outcomes course relevant to your work or potentially leading to an increase in income within your current employment, you could claim a range of education-related expenses at tax time.
Your study-related expenses might include:
- Course fees
- Textbooks
- Internet usage (excluding connection fees)
- Computer consumables
- Stationery (pens, notebooks, highlighter, yearly planner)
- Trade, professional or academic journals
Take advantage – enrol now!
Whether you’ve been working towards advancing in your job or you want to improve your current skills, Practical Outcomes can help. Enrol now to maximise your career and your tax return with our highly regarded child care courses. Take a look at our range of early childhood courses
If you’re unsure about which course is right for your current situation, the Practical Outcomes team can guide and support you in making a rewarding decision. Your payment is tax deductible if you pay your full fee before 30 June 2017. Course fee payments made after the 2016-17 tax year will be tax deductible at the end of 30 June 2018. Get in touch with us to get started before the 2016-17 tax year comes to an end.
The information above is general information only and does not constitute professional advice. Get in touch with the ATO or a tax professional to learn more about how this information applies to your individual circumstances.
