CSP no tax benefits vs full fee with tax benefits, no comprendo

[apollokids]

Hello all

Comments

[pale_fire]

You probably want to talk to your accountant. I would have thought that CSP fees can still be claimed as educational expenses. Would you get 6k in tax return that you overpaid? Doesn't seem right.

[apollokids]

I think this is relevant:
"You cannot claim contributions you, or the Australian Government, make under HECS-HELP or repayments you make under the Higher Education Loan Program (HELP) or the Student Financial Supplement Scheme (SFSS)."

(source)

Same site says that you can claim for FEE-HELP (that is for fee paying students).

[australian_joe]

Tax deductions don't reduce your tax directly; they reduce what your income is considered to be, and you pay tax on that "taxable income". So paying the AFP of $9000 means your income would be considered $9000 less for figuring out how much tax you'd pay

[apollokids]

Ah, australian_joe, my saviour yet again.

For the record, it's a nursing graduate diploma...

[australian_joe]

:P

[australian_joe]

And those scenarios assume the CSP is not tax deductible. I'm not so sure about that, most tuition fees are, but there *are* exceptions.

If it turns out the CSP *is* tax deductible - and after all, we only have this prof's word that it isn't, and we've already demolished their advice - then there is even less reason to think about AFP.

AFP entry basically exists only for rich people too academically under-performing to get into university any other way.

[australian_joe]

If you're willing, say more? That wasn't my understanding and it's not what the government's CSP advice says:

http://studyassist.gov.au/sites/studyassist/helppayingmyfees/csps/pages/commonwealth-supported-places