$250 self-education expense reduction removed

Share on facebook
Share on linkedin
What are self education expenses? Self-Education expenses are expenses related to courses or workshops provided by a school, college, university, or other training providers.
Date of effectFirst income year after the date of Royal Assent of the enabling legislation
Currently, individuals claiming a deduction for self-education expenses sometimes need to reduce the deductible amount by up to $250. The rules in this area are complex as they only apply to self-education expenses that fall within a specific category and certain non-deductible expenses can be offset against the $250 reduction. This reduction will be removed, which should make it easier for individuals to calculate their self-education deductions.