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Self-education: when is it deductible?
Posted by Team AVS on 26 Sep, 2023 0 CommentsIf the subject of self-education leads to, or is likely to lead to, an increase in the taxpayer’s income from current (but not new) income-earning activities, a deduction for self-education expenses incurred will be allowable.
There is no specific provision in the income tax legislation that allows a deduction for self- education expenses. Rather the expenditure falls for consideration under the general deductibility provision of the Tax Act
The capital gains tax (CGT) discount can reduce by 50% a capital gain that you make when you dispose of (sell) a CGT asset that you have owned for 12 months or more. However, the discount is only available to:
individuals (but not foreign or temporary residents)
complying superannuation funds (33% discount applies, not 50%)
trusts, and
life insurance companies in respect of a discount capital gain from a CGT event in respect of a CGT as
individuals (but not foreign or temporary residents)
complying superannuation funds (33% discount applies, not 50%)
trusts, and
life insurance companies in respect of a discount capital gain from a CGT event in respect of a CGT as
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