Claiming Your Self Education Expenses

Great news for LinkLearn students! If you’ve invested in your education with a LinkLearn Real Estate course, you can claim back education amounts that you have spent in the financial year. The Australian Governments offers tax deductions on approved self education expenses, which means you may be eligible to claim with your Real Estate course completed with LinkLearn.

Here’s an overview of the items that you may be eligible to claim as deductible self-education expenses:

  • Course fees
  • Computer Consumables
  • Internet usage
  • Phone calls
  • Stationary
  • Home office running costs

The Australian Taxation Office website has a full list of self education expenses you could potentially claim this financial year.

Eligibility of the course you’ve completed is based largely on your motivations for your professional development. Generally, if you are working and studied with LinkLearn to:

  • Gain a qualification that leads to, or is likely to lead to a wage increase from your current employer
  • Update or improve the knowledge and skills used within your current role specifically
  • Upgrade qualifications for use within your current role

Are you also able to answer ‘yes’ to the following questions:

  • Did you fund the course yourself?
  • Were you formally employed during your training?
  • Were your self education expenses incurred for within the same financial year that you’re looking to claim?

This self education overview from the Australian Taxation Office gives you the ability to check your eligibility and better yet, their very handy self education expense calculator helps you work out how much of a tax deduction you should be looking to claim.

If you are working as an individual real estate agent, then you might also find it useful to understand what you can and can’t claim as a real estate agent. Click here to learn more about deductions available to real estate agents.