Here is a great article from Property Tax Specialists about the tax deductibility of property investment courses and seminars.
With the huge opportunities in the investment property market at the moment, many people attend seminars to learn more about how to invest and generally educate themselves on how to create wealth.
Attending seminars almost always involves a fee or a contribution of some sort. These can range from just covering the venue expenses, a short intensive program with materials or a long program with monthly meetings/seminars and continuous support for the long term.
The most common question I am asked regarding seminar expenses is ‘are the seminar fees are tax deductible’
Depending on your personal circumstances and marginal tax rate the tax saving from claiming the expense as a deduction can vary from $15 for every $100 spent to $46.5 per $100 spent.
Being able to claim a tax deduction means a tax saving and reducing the cost of the program, making it more affordable. In some cases it may mean the difference between being able to take it on or not, particularly where the fee is large.
So what factors determine whether the fees are tax deductible for the individual or not?