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Conferences tax deductions | 2023 Gotax

June 26, 2023

Conferences and tax deductions

If you're required to attend a conference as part of your work obligations, you may be eligible for tax deductions, so this can be good news. However, if you've decided to attend a conference purely for personal reasons or leisure, such as it being located at a vacation spot, the tax authorities may not view this favourably.

In cases where the conference serves both work-related and personal purposes, you may need to apportion the claim. You'll have to determine what portion of the expenses are work-related and keep detailed records of these.

Expenses that are claimable could include the seminar costs, the accommodation costs including meals ad refreshments.  And also, the travel costs to get there and back.

As an example:

Gerald is a tax mechanic working for Hyundai in Brisbane. He attends a two-day National Mechanical Engineers Conference in Darwin that costs $1,000 for registration. The conference covers topics that are relevant to his current work and will help her improve his skills and knowledge. His costs are not reimbursed by Hyundai.

Gerald also incurs $900 for return airfares, $400 for accommodation and $200 for meals during the conference.

Gerald can claim a deduction for the following expenses:

  • $1,000 for the conference fees
  • $900 for the airfares
  • $400 for the accommodation
  • $200 for meals

Gerald’s total deduction is $2,500.

If Gerald continued to stay in Darwin to undertake recreational activities, those costs would not be deductible.

And don’t forget that your tax deduction is only your out-of-pocket expenses.  If your employer pays for it all or re-imburses you then that doesn’t count.

Speaking of records, it's essential to keep organised and comprehensive documentation of all your tax-related transactions. You might think of this as maintaining the cleanliness and order of a personal space.  Tracking your records are easy with Deduction Grabber.  Scan me now..

Conferences and Tax Deductions

Lastly, remember that tax laws can change frequently, so it's important to keep updated to stay compliant. It's like keeping an eye on the shifting weather - being aware of the changes can save you a lot of trouble.

Stay informed and proactive with your taxes!  Being in the know creates awareness and tax deductions.

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