ATO MBA Tax Deduction

Hey buddy can you please tell me simple way to claim ATO Tax Deduction during MBA for that will you please gather information about it?

[Shaleen]

On your demand buddy I will tell you simple ways to claim ATO Tax Deduction during MBA so that you can have idea about it.

Here I’m telling you simple ways to claim
1. Tuition fees
Regardless of which business school you choose to study with, the MBA is a significant career investment.

Whether you’ve chosen to pay in full or under the government funded FEE-HELP scheme, you’ll 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.

2. Textbooks
With each MBA subject usually comes the purchase of at least one high quality textbook. 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’.

3. Internet bills
In the online world of today, both distance learning and on-campus students will spend a great deal of their time on the internet.

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.

4. Study room expenses
When studying from home, it is likely that you will have a room set for your self-education purposes.

It is therefore possible to claim tax deductions during your MBA for costs such as heating, cooling and the lighting of that room whilst you are studying in it.

Depreciation on capital costs of items acquired in the financial year and used for self-education purposes, such as a computer or desk, are also able to be claimed.