MBA Tax Deductible Australia

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How to Claim Tax Deductions For Your MBA program in Australia so can you tell me?

[pooja]

To be able to claim for the expenses, the self-education must relate directly to your current field of work, for example completing an MBA programme that you know will be likely to lead to an increase in your employment income.

You should keep the below four areas in mind when looking to claim tax deductions during your MBA.

[B]1. Tuition fees-[/B]

Whether youve chosen to pay in full or under the government funded FEE-HELP scheme, youll be pleased to know that it is possible to claim tax deductions during your MBA when it comes to the tuition fees.
If eligible, this amount can also include fees for activities such as student services, amenities and union fees.

[B]2. Textbooks[/B]

If you are eligible, tax deductions can be claimed on these books, as well as items such as stationery and professional or trade journals, including those which are recommended reading rather than compulsory reading.

[B]3. Internet bills[/B]

From conducting research for assignments to participating in online discussion boards internet bills can be claimed as a proportion of self-education versus private use of the total cost.

[B]4. Study room expenses[/B]

When studying from home, it is likely that you will have a room set aside for your self-education purposes.
It is therefore possible to claim tax deductions during your degree for costs such as heating, cooling and the lighting of that room whilst you are studying in it.

Note that not every student is eligible to claim tax deductions during the MBA.