The government announced that it will not proceed with the $2,000 self-education expenses cap previously announced by the Labor government. Self-education expenses includes training and education courses, textbooks and other accreditation expenses. For further detail of what is deductible and what not, please click on the following link:

http://www.ato.gov.au/Individuals/Income-and-deductions/Deductions-you-can-claim/Self-education-expenses/

However it is important to note what the Hon. Arthur Sinodinos, Assistant Treasurer had to say on self-education expenses.

“We have been advised that there is no credible evidence of substantial abuse of this deduction.  If credible evidence of systematic abuse emerges, then the Government will revisit this issue. Moreover the economic cost of this initiative is substantial. This was recognized by the previous Government which delayed the implementation of their proposal”

If you have any questions on how this will affect your personal situation, please contact our accounting team on (07) 32528810.