The costs associated with undertaking further education are deductible if there is a connection between your course and your current employment. For example, upgrading your qualifications for current employment, improving your skills and knowledge used in current employment or if employed as a trainee, undertaking course that forms part of traineeship

Allowable tax deductions include tuition fees, textbooks, professional and trade journals, stationary,               photocopying, computer expenses, student union fees, home office expenses, allowable travel expenses and accommodation and meals when your course requires you to be away from home.

TAX TIP: If you are looking at working whilst completing your course, perhaps consider getting a job in your chosen field to increase the chances of it being tax deductible.

HECS-HELP: HECS-HELP, previously known as HECS, is a government assisted loan program to help eligible commonwealth supported students to pay their student contribution amounts.

Students are required to repay their debt through the tax system when they earn above the minimum threshold for compulsory repayment, even if they are still studying. Please see the table provided. It is important to note that HECS-HELP repayment is calculated by applying the percentage to your income, opposed to your HECS-HELP debt.

If you have any questions regarding the above information please contact our office.