BDO submission on Education and training expense deductions for individuals

Treasury recently issued a discussion paper in accordance with the Government’s 2020-21 Budget announcement that it would consult on allowing individuals to deduct education and training expenses they incur, where the expense is not related to their current employment.

The discussion paper is seeking views on whether tax arrangements should play a greater role in encouraging Australians to retrain and reskill to support their future employment and career. Accordingly, BDO National Tax has prepared a BDO submission.