Tax deduction for professional body membership
By Marc Sevitz · Updated
Good day Tim
I have forgotten to claim membership fees to a professional body as a deduction in the 2013/2014 tax year. Can I claim it in this 2014/2015 tax year?
Also if money is spent on CPD (required to maintain membership to a professional body), is this deductable for tax purposes?
I have forgotten to claim membership fees to a professional body as a deduction in the 2013/2014 tax year. Can I claim it in this 2014/2015 tax year?
Also if money is spent on CPD (required to maintain membership to a professional body), is this deductable for tax purposes?
Are you a salaried employee or do you work for yourself?
Yes, I have been a salaried employee.
I have also actively searched for jobs hoping that my designation with the professional body would result in good job prospects.
Unfortunately as a salaried employee you will not be able to claim this professional contribution as it is not allowed as per the tax act.
Hi Tim
I would like to add that I personally paid my membership fees and not my employer. Does this change the tax position?
Also can you please quote the section of the tax Act which prohibits a salaried employee from obtaining a deduction? That will be much appreciated!
I would like to add that I personally paid my membership fees and not my employer. Does this change the tax position?
Also can you please quote the section of the tax Act which prohibits a salaried employee from obtaining a deduction? That will be much appreciated!
Your employer paying for it would actually be better because then you are not taxed on it and they claim a deduction.
However salaried employees are limited to deductions under s23(m) of the tax act which does not include these type of expenditures.
However salaried employees are limited to deductions under s23(m) of the tax act which does not include these type of expenditures.
Thank you!
Glad we could assist!