The Australian federal government’s decision to scrap a previously proposed $2000 cap on work-related self-education expenses has been welcomed by the industry.
Linda Gaunt, CEO of the Meetings & Events Australia (MEA), warned that the cap would have slowed the growth of the meetings and events industry and threatened a skills shortage.
The previous Labor government was set to introduce the $2000 cap on how much people could claim on work-related expenses on education.
New treasurer Joe Hockey announced this week the "flawed policy" would be dropped.
The business events sector argued that the cap would have meant that attendance at conferences and professional development events was no longer tax deductible after the first $2000.
Gaunt said, if carried out, the policy to introduce a cap "would have hindered an industry already threatened with a skills shortage".
"Furthermore, it would have adversely affected the competitiveness of Australian workers in the global marketplace."
