Government defers $2,000 cap on self-education tax deductions for one year

The Commonwealth Government has decided to defer the introduction of the $2,000 cap on self-education tax deductions for a year (as announced on page34 of its Economic Statement).

This will defer the introduction of the $2,000 cap on work related education expense deductions until 1 July 2015. It is indicated that 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.”