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_yeonbin120(Newbie)Newbie
15 July 2021

Hello,

I am a bit confused as to the rule of claiming professional subscription fees. I paid $325 for the annual membership fee for CPA as an associate member in Dec 2020. I then started to work as an assistant accountant in Jan 2021, in which my role involves doing accounting journals (such as accruals and reclass journals), BAS, assisting with balance sheet reconciliation and preparation of financial statements.

It seems to me that my subscription is relevant to my income stream. Would the annual CPA subscription fee (NOT the course fee) satisfy s8-1 for full deductions, or is it under subscriptions for associations, or is it self-education expenses? How much can i claim in my tax return and which category should i declare in?

Thank you!

6,830 views
1 replies
6,830 views
1 replies

Most helpful response

Most helpful replyATO Certified Response

JodieR_ATO(Community Support)Community Support
ATO Certified Response16 July 2021

Hi @yeonbin120,


For work related expenses to be claimable, you need to be working in the industry.


If you paid the amount in Dec 2020, this was prior to your employment in Jan 2021.


If you were not working in the industry prior to Jan 2021, it would not be a work related expense.


If you were paying a monthly amount, expenses incurred after commencement of employment would be claimable.


You can contact our early engagement team to see if there is anything you can do about your specific circumstances.

All replies

Most helpful replyATO Certified Response

JodieR_ATO(Community Support)Community Support
ATO Certified Response16 July 2021

Hi @yeonbin120,


For work related expenses to be claimable, you need to be working in the industry.


If you paid the amount in Dec 2020, this was prior to your employment in Jan 2021.


If you were not working in the industry prior to Jan 2021, it would not be a work related expense.


If you were paying a monthly amount, expenses incurred after commencement of employment would be claimable.


You can contact our early engagement team to see if there is anything you can do about your specific circumstances.

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How do can I claim for my CPA annual membership subscription fee? | ATO Community