CDP tax deduction changes are coming?

From Craig Lyon
Craig Lyon & Associates Pty Ltd
Suite 3, 1st Floor, 136 Canterbury Road (PO Box 805)
HEATHMONT   VIC   3135
Ph: (03) 9729 7592

Contained in last week’s budget papers was confirmation that the government intends to introduce a $2000 cap on tax deduction claims for work-related self education expenses. The proposed commencement date for this measure is 1 July 2014.

In the Treasurer’s 13 April 2013 announcement of this measure, Mr Swan defended the move on the basis that without a cap, “it is possible to make large claims for expenses such as first-class airfares, five-star accommodation and expensive courses”. Continue reading