self education expenses (1 Viewer)

[theone123]

hi all,

im really puzzled about the fact whether uni HECS-HELP fees are deductible if directly related to work.

the tax pack says it isnt deductible if it is a HELP payment, but it also says if it is a course fee it is deductible.

how to distinguish if it a course fee or a HELP payment :S

also does it necessarily need to be paid to be deductible or just incurred the tax year?

helpful advice appreciated, thanks.

 

[LaraB]

hi all,

im really puzzled about the fact whether uni HECS-HELP fees are deductible if directly related to work.

the tax pack says it isnt deductible if it is a HELP payment, but it also says if it is a course fee it is deductible.

how to distinguish if it a course fee or a HELP payment :S

also does it necessarily need to be paid to be deductible or just incurred the tax year?

helpful advice appreciated, thanks.

i woudl assume that means HECS isn't deductible but full fee pay and teh like is? That would make sense - think about it - HECS is essentially a loan from the government, so why would they let you use it as a deduction? Whilst if you're paying fees, you're paying a higher rate and not 'borrowing" from the government so it woudl make sense to have a deduction available for that.

Be careful if you're going to claim self-education expenses - eg - if you're a law student who's a law clerk, that link between your degree and your work doesn't automatically mean tax deduction like people think... It can, but make sure you check to save having to pay stuff back