On Friday August 2, the Rudd government put on ice Wayne Swan's proposal to put a taxable cap of $2,000 on self-education expenses until July 2015.
This proposed cap could have affected nearly two million workers, cost the nation $1.6 billion in lost tax revenue and cut national productivity by up to $6 billion – while delivering only $520 million in revenue. Treasurer Chris Bowen announced the cap deferral as part of the Government’s Economic Statement.
AuSAE, as a member of the Scrap the Cap Alliance, have been lobbying against the proposed cap since former Treasurer, Wayne Swan, released the ill-informed policy back in April and are pleased with this government announcement.
AMA President, Dr Steve Hambleton, said the decision by the Government to defer the introduction of the proposed $2,000 cap on work-related self-education expenses until July 2015 would allow proper informed discussion that should lead to the removal of the proposed cap by the next Government.
If you have any questions please contact the AuSAE team on 1300 764 576