Business School welcomes decision to defer cap on education deductions
02 Aug 2013
The University of Sydney Business School has welcomed the Federal Government's decision to defer the introduction of a $2000 cap on tax deductions for work related education expenses describing it as a move that could have a significant impact on the business education sector in Australia.
The move has allayed fears that the cap, which was to come into force in July next year, may deter many people from enrolling on Business degrees at the University of Sydney and at other educational institutions.
In the Government's economic update, the Treasurer, Mr Chris Bowen, said the cap had been deferred until July 2015 to allow for "further consultation on how best to target excessive claims" without affecting enrolments and genuine continuing professional development.
In a joint statement, the Business School Co-deans, Professor Tyrone Carlin and Professor David Grant, praised the move and said they welcomed the additional time for consultations designed to lead to the best possible outcome for the higher education sector and taxpayers.
"This is both a significant development and a very sensible approach by the Minister," the Co-deans concluded.