Cap on self-education deductions deferred
Fri Aug 02 2013The federal government's economic statement, released today, defers the proposed changes to the cap for self-education deductions for twelve months, pending further consultation. The cap proposal was the subject of submissions from the Law Council of Australia, the Australian Bar Assocation and other professional bodies, which appear to have led to the government acknowledging that further consideration of the issue is required. At page 34, the statement says:
âThe Government has decided to defer the introduction of the $2,000 cap on work related education expense deductions until 1 July 2015. This will allow for further consultation on how best to target excessive claims while ensuring the impact on university enrolments and genuine continuing professional development is minimised. This measure is expected to decrease receipts by $250 million over the forward estimates period.â
2 August 2013