Many people think that businesses don't pay tax, rent, staff or overheads. 100% just goes into the pocket.
Proposed $2000 cap on self education expenses
- Thread starter china
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Many people think that businesses don't pay tax, rent, staff or overheads. 100% just goes into the pocket.
No it doesn't. It's only for employees who claim expenses at D4 on the tax return.
Ok that's great to know, thanks for the clarification. I can go to that conference after all.
Someone here mentioned health care workers obligations...
Almost all of nurses CPD can be done online, for free, usually on the job or on the job as part of the employers ongoing education program.
I'm sure this was designed this way so there would be no difficulty (or excuse) for anyone to not meet their few hours of professional development.
There really is no expectation to travel anywhere outside of your city.
If you want to tax income, then business expenses incurred in the process of that must always be tax deductible. This is fundamental.
Do I really need to drive a German car for my work when a (cheaper) Japanese car would do? Maybe not, but I still claim deductions on my German car because it's used for business purposes. Otherwise you might as well have no deductions.
Doctor friend must attend a conference minimum once a year. I do know he does a LOT of sightseeing instead of being in the room where he should be.
These days with internet and teleconferencing, why do doctors have to fly to exotic locations anyway?
I can see where the government/ato are coming from in some ways, because yeah I see in pharmacy they have overseas conferences In London and New York http://www psa org au/refresher , however the $2000 is a joke , a friend of mine did a HMR course which cost over $1000 , plus there are PSA memberships and that's the $2000 all taken up.
If they really want to cap it then It should be more than $2000 IMO
I thought the only overhead brokers had was a mobile phone and a lease payment on a german car?
I thought the only overhead brokers had was a mobile phone and a lease payment on a german car?
lol that's the misconception I was talking about
so flying first class to Las Vegas with the taxpayer picking up a big piece of the tab is ok?
I have no issue with reasonable business expenses being tax deductible.
I just find it amusing how quickly all this talk of how the government needs to reign in spending, cut costs, stop wasting money etc etc stops when it means that people can no longer have the tax payer pick up the bill for a business class flight to Vegas.
Well put. A lot of rorting has been going on.
Targeting the self employed with 'reasonable' tests doesn't help the budget bottom line as much as you may think. Then we get legal arguments about what 'reasonable' means. Maybe I think traveling business class is reasonable because I need to have sufficient comfort in my travels in order to do business efficiently. Or maybe I need to stay in 5 star hotels because that is the nature of my business to impress multi-billion dollar clients. Imagine staying in a 3-4 star joint when you have to impress people for business. It just doesn't reflect commercial realities - businessmen spend money on things with good reason. We already have limitations on 'entertainment' expenses - what's next?
the comments along the lines of...
its alright to tax the rich/doctor/mining/ >200Kper yr/ whatever ...THEY can afford it.. but not me, Im a self righteous battler/nurse/patriot/ investor/NIMBY.
...I dont deserve it...
...are morally wrong.
you should not enact and support a law you would not be prepared to live under yourself. be it tax law or international treaty.
Half the comments on this thread are therefore less than circumspect.
to those who wonder "why it isnt all online"
A 3minute TED talk online is not going to have the requisite information and educational content to match an international conference. For the highly skilled professional be it financial/ medico/whatever the least you do daily is online forums, discussions, teleconferencing, journals, local affiliations to keep up to date- thats a given in professional life...as a baseline!.
Nothing compares to an international conference for the cutting edge research and networking available.
If you are going overseas it might as well be in a reasonable location so the spouses can come. I dont get to see enough of mine anyway. Happy life, Happy wife etc.
I do consider business class a reasonable expense. I need to be there ready to present seminars to people at the top of my game and I have the courtesy to do the same to them. then I fly home and back to work. There is no room for mistakes and I need to get over the jetlag as quickly as possible in both locations.
There is a reason its called "business" class.
I will be interested in watching it pan out in the Uni arena for Masters degrees. less demand if they arent deductable, This will have implications for more than just the individual.
its alright to tax the rich/doctor/mining/ >200Kper yr/ whatever ...THEY can afford it.. but not me, Im a self righteous battler/nurse/patriot/ investor/NIMBY.
...I dont deserve it...
...are morally wrong.
you should not enact and support a law you would not be prepared to live under yourself. be it tax law or international treaty.
Half the comments on this thread are therefore less than circumspect.
to those who wonder "why it isnt all online"
A 3minute TED talk online is not going to have the requisite information and educational content to match an international conference. For the highly skilled professional be it financial/ medico/whatever the least you do daily is online forums, discussions, teleconferencing, journals, local affiliations to keep up to date- thats a given in professional life...as a baseline!.
Nothing compares to an international conference for the cutting edge research and networking available.
If you are going overseas it might as well be in a reasonable location so the spouses can come. I dont get to see enough of mine anyway. Happy life, Happy wife etc.
I do consider business class a reasonable expense. I need to be there ready to present seminars to people at the top of my game and I have the courtesy to do the same to them. then I fly home and back to work. There is no room for mistakes and I need to get over the jetlag as quickly as possible in both locations.
There is a reason its called "business" class.
I will be interested in watching it pan out in the Uni arena for Masters degrees. less demand if they arent deductable, This will have implications for more than just the individual.
I did more than 80 hours last year for CPD points involving law, mortgage broking, taxation and financial planning. With the new CTA designation we have to do 30 hours per year of education. But it can all be done online or at locally based locations.
Some law conferences are held overseas in resort style hotels. No real reason that travel and accomodation to these should be deductible I think.
I also did a masters of law a few years ago and this cost me about $20k. I think this is an area which will see a big drop in demand.
Some law conferences are held overseas in resort style hotels. No real reason that travel and accomodation to these should be deductible I think.
I also did a masters of law a few years ago and this cost me about $20k. I think this is an area which will see a big drop in demand.
This doesn't effect the self employed - at all. If you're self employed you just get your business to pay for the junket and it's still a business related expense. Go for your life.
This only effects employees who choose to do "self education" outside what their employer will pay for. If your employer thinks a trip to Hawaii is worthwhile for your job, they can pay for it and claim the expense.
But if the employee wants to pursue "self education" outside of their employment then there will now be a $2k cap on what can be claimed. I used to claim this for post grad study expenses that weren't paid by my employer.
I don't see any court case looming - this was always a bit of a rort from a tax policy perspective as there was never any nexus between your income and the education costs. This was something an employee chose to do in their own time that clearly wasn't necessary for their job - if it was their employer would have paid for it. It was effectively a handout for people to remain professional students and none of us think well of handouts do we!
This only effects employees who choose to do "self education" outside what their employer will pay for. If your employer thinks a trip to Hawaii is worthwhile for your job, they can pay for it and claim the expense.
But if the employee wants to pursue "self education" outside of their employment then there will now be a $2k cap on what can be claimed. I used to claim this for post grad study expenses that weren't paid by my employer.
I don't see any court case looming - this was always a bit of a rort from a tax policy perspective as there was never any nexus between your income and the education costs. This was something an employee chose to do in their own time that clearly wasn't necessary for their job - if it was their employer would have paid for it. It was effectively a handout for people to remain professional students and none of us think well of handouts do we!
But Terry if you own your own business, then just get your business to pay for it and it's all still fully claimable. This is a personal tax return issue - not a business one.
Yes, I agree.
This doctor's wife goes each time too, and they seem to spend a lot of time sightseeing together, and not at the conference
.My comment was more to do with nursing so can't really comment too much on other positions.
Here in SA CPD hours are 18 per year... soon reducing, so I have been told.
I attended a free 2 day workshop in a public hospital on work hours (16 hours) and did a few questionaire thingies online (my estimated time about 2 hours) and I was done for the year.
Here in SA CPD hours are 18 per year... soon reducing, so I have been told.
I attended a free 2 day workshop in a public hospital on work hours (16 hours) and did a few questionaire thingies online (my estimated time about 2 hours) and I was done for the year.