Claiming Tax Deductions for Self-Education and Conference Expenses

While technology is racing and your job requires you to stay on top of your game, have you wondered whether the costs of seminars, conferences and other self-educational expenses are deductible?

Answer is, self-education expenses, conferences and seminars, can be claimed as tax deductions if they have a connection to your current employment or a job you intend to get and the purpose of attending the seminars or conferences needs to be maintained or to improve your knowledge, skills or capabilities for your current employment.  The expenses must be incurred for genuine educational purposes, not for a personal hobby or interest.

Here are some common self-education expenses you may be able to claim:

• Course fees: Tuition fees for courses that enhance your skills or knowledge in your current employment
• Text books and Course Materials: Cost for books, study guides and other educational materials required
• Conference Fees: Registration fees for attending relevant seminar or conference
• Transport: If you need to travel to attend the seminar/conference or course, costs including airfares, train, taxi or any other public transport.
• Parking fees & Tolls
• Stationery & Supplies: Any materials you need for your studies
• Accommodation: If you need to travel for the seminar/conference or stay away from home for your education, you may be able to claim accommodation costs.
• Meals & Drinks: Meals such as breakfast or dinner on seminar/conference days when an overnight stay is required (not including alcohol)
• Home Office Expenses: A portion of your home office expenses can be claimed if they are used for study purposes

For the above costs to be claimed as tax deduction in your tax return, you must pay for them yourself and they cannot be reimbursed by a third party or your employer.

In circumstances where you travel interstate or overseas for the conference or seminar and you decide to stay longer or arrive earlier, the additional days are considered personal and are not tax deductible. The tax deduction will be apportioned between personal and business.

For More Information

If you would like more information on self-education deductions, please contact an Archer Gowland Redshaw adviser on (07) 3002 2699 | info@agredshaw.com.au