PPRuNe Forums - View Single Post - VB/J* Pilots :.. Are Endorsements Tax Deductable?
Old 14th Jan 2005, 04:00
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ITCZ
 
Join Date: Jan 2001
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2FarCanard..

Talk at Jetstar is that they might be moving toward a bond type arrangement for the 717/320.
No. That is not what J* put in their proposal for the QF link contract. All new 717 and 320 pilots to do the same as virgin. Pay for your endorsement. Seems to be backed up by one question J* asks applicants on staffcv.com.... 'are you prepared to obtain an endorsement at your own cost?'

OVERCHINA....

The basic idea at the ATO is that paying for an aircraft endorsement to CHANGE employers is a capital cost (= not deductible).

Getting a 320/717/737/spaceshuttle endorsement with the view of moving up the ladder or improving your ability to doing your CURRENT job with your present employer is considered to fall under 'self-education' costs, and is deductible.

So if your company starts operating a 717, and requires you to pay to transfer to it, that is deductible.

If you resign your chieftain or space shuttle job to join a 737 operator, then your 737 course is not deductible.

The devil is in the detail, but that is the basic view of the ATO

Ang737..

A reminder that if you followed your own advice, the ATO would see a huge blip on their radar screen, would possibly investigate, and if you were found to be wrong, your 737 endorsement might cost you $45,000. The tax due plus twice the tax due as a penalty! Would have been cheaper to cop the $25-$30k.

boocs...

Exactly.
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