Work related educational expenses cap delayed until 2015.
Federal Treasurer Chris Bowen has announced the deferral of the introduction of the government’s controversial $2000 cap on work related education expense deductions until 01 July 2015.
An economic statement just released confirms the move, saying that the delay “will allow for further consultation on how best to target excessive claims while ensuring the impact on university enrolments and genuine continuing professional development is minimised”.
Bowen said deferring the measure is forecast to decrease government receipts by $250 million.
There has been concerted opposition to the proposal from a range of professional groups which launched a ‘Scrap the Cap’ campaign.
The economic statement also confirms that government payments under the Pharmaceutical Benefits Scheme are now forecast to be $2 billion lower than expected over the four years to 2016-17, “largely reflecting higher than expected savings from existing pricing policy”.
More information in Monday’s Pharmacy Daily.
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