 Self Education Expenses
Self-Education expenses, that the employee would normally be able to claim via their income tax return, can be packaged.
You are able to claim the cost of self-education if one the following best describes your self-education:
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At the time the expense was incurred, there was a direct connection between the self-education and your current work activities that enabled you to maintain or improve the skill(s) or specific knowledge upon which your income earning activities are based.
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There is a direct connection between the self-education and your current work activities because you can show that the study leads to, or is likely to lead to, increased income from your current work activities.
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Other circumstances exist where there is a direct connection between your self-education and your current work activities.
A valid tax invoice will need to be supplied for the reimbursement to take place.
A valid tax invoice will need to be supplied for the reimbursement to take place. Reimbursement will be either as an up front amount (if the value is less then $550) or in instalments, depending on the value of the claim. Up front reimbursements are made directly to the employees bank account, and installments are made via the payroll system.
The savings (after packaging fees) that may be obtained through salary packaging this particular benefit is determined by your taxable income:
$6,001 to $30,000 - 22%
$30,001 to $75,000 - 36%
$75,001 to $150,000 - 45%
$150,000+ - 50%
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