Government reported to have dropped plans to cap self-education expenses
The Federal Government has reportedly scrapped plans to axe or cap tax deductions for work-related self-education expenses after the AMA warned it would campaign against the idea in the lead-up to the Federal election.
The Australian Financial Review has reported the Government has dumped the idea of trading away work-related tax deductions to help fund business tax cuts in next month’s Budget. The policy change came after the AMA said discussions had been held about resurrecting the Scrap the Cap alliance of more than 70 professional and educational organisations to campaign against any change to tax deductions for self-education expenses.
AMA Vice President Dr Stephen Parnis said deductions for self-education expenses should be off the savings list. Doctors had to continually update their skills and knowledge throughout their careers, at their own expense, and scrapping the tax break would have created a ‘huge disincentive’, particularly for junior doctors considering undertaking specialist training.