Proposed Self Education Cap Deferred 12 months

Proposed self education cap deferred 12 monthsThe recent Economic Statement from the Federal Government announced the deferral of the start date of the self-education expenses cap by 12 months to 1 July 2015, so as to allow further consultation.
In a media release on 13th April 2013 the then treasurer, Wayne Swan announced the introduction of a cap of $2,000 on the tax deduction available for self-education expenses, in an attempt to curtail tax benefits for such costs as first class airfares and 5 star accommodation. This announcement caused significant backlash from training providers, convention centres, and providers of tourism services.
The Government has acknowledged the need to minimise the potential impact of this measure on genuine continuing professional development and other education needs.

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