Claiming Deductions for Study Expenses
The Australian Tax Office has started notifying taxpayers who may be entitled to claim deductions, and therefore receive an additional refund (plus interest), for study expenses following a recent decision of the High Court of Australia. Previously the Australian Tax Office would not allow a deduction for study expenses where the tax payer was in receipt of Youth Allowance payments from Centrelink unless the taxpayer had other work related income relevant to the field of study. This view of the ATO was overturned by the High Court.
If you were eligible for a deduction in the years 2007, 2008, 2009 or 2010 the ATO will be writing to advise you that they will be amending your assessment(s) for those years. The ATO said they will write to eligible taxpayers between 1 March 2011 and 30 April 2011.
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