Expenses relating to self education
Friday, February 2nd, 2007Over the last couple of blogs we have talked about who can claim self education expenses, and talked about tax tips and tax implications for students.
Suppose you have done your homework, and you know you can claim schooling. What exactly can you claim?
Claimable schooling expenses
This is a list of expenses a student may claim for self education. Your situation may differ, but this list should cover all the basics.
- Student union
- Course fees (eg:TAFE)
- Text books
- Stationery/photocopying
- Home office expenses for a room set aside for work related study purposes. (To cover heating, electricity, etc.)
- Interest on borrowing to purchase a computer or pay fees
- Depreciation on computers, printers, filing cabinets, desks, chairs, lights, etc.
- Ink cartidges & supplies for printers
- Secretarial expenses e.g. paying a professional to type assignments
- Software relating to study
- Accommodation and meal expenses if you are away from home overnight in connection with work related study activities
- Internet access
- Meals can be claimed if the self education is directly connected to you current work and you are away from home for one or more nights
- Travel
- home - school - home
- home - school - but not to work
- work - school - but not to home
- work - school - work
- Parking at the school
If a computer is not used solely for school work, it must be apportioned. This means you divide the amount between private use, self education and work.
Overseas Travel
You can claim a deduction for airfares as part of self education expenses when attending
- overseas study tours
- sabbaticals
- work related conferences or seminars
- an educational institution
If part of your trip is for a holiday, it must be apportioned. Meals are not claimable.
You CANNOT claim:
- HECS-HELP
- Financial Supplement Loan repayments
- Open Learning Agency of Australia basic charges
Only in special circumstances can fee-paying students claim a deduction.
Keep in mind that in many circumstances, the first $250 may not be claimable, depending on the type of expense and the category it falls into.