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High Court has released its determination in Commissioner of Taxation v Anstis in regards to deducting self-education expenses against Youth Allowance income. The Court held that the taxpayer’s self-education expenses were incurred in gaining or producing her assessable Youth Allowance income and were deductible even though the taxpayer was not employed in a relevant field while undertaking the study.


The decision opens the door for many students to claim self-education expenses against Youth Allowance payments as well as other forms of income support payments. This will be particularly relevant for students with part-time jobs whose assessable income exceeds the tax-free threshold.


The Full Federal Court had previously held in November 2009 that the costs of studying should be deductible because the taxpayer had to be enrolled in a full time course in order to receive assessable Youth Allowance payments.


Moving forward it will be important to consider this in preparing your income tax returns. But what happens if you haven’t made a claim in the past ? The ATO has indicated you do not need to do anything to claim a deduction. If you paid tax in the 2007 Scarpe Donne Adidas Superstar Suede Rosa Bianche Scontate , 2008, 2009 andor 2010 years, the ATO will write to you between 1 March 2011 and 30 April 2011 to advise you that we will amend your assessment to include a deduction of $550 for each year you are eligible.


This does not mean that you will get a refund of $550 for each year. Tax deductions reduce the amount of income you have to pay tax on, so if you are entitled to a $550 deduction, this means the income you pay tax on will be reduced by $550.


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In the midst of recent economic turmoil, many people have taken advantage of the increasingly popular 鈥渃ash for gold鈥?option Scarpe Adidas Classic Superstar 2 Blu Bianche Scontate , essentially selling off unused or unwanted jewelry. There are 3 primary venues commonly used to accomplish this, a quick evaluation of which will reveal the best option for you.


Pawn Shops


The first option to come into the minds of most people as a venue in which to sell your gold is, of course, a pawn shop. While this may be a very traditional cash for gold option, pawn shops specialize in the reselling of the items they purchase and, as such Scarpe Adidas Superstar W Nere Bianche Scontate , are only going to offer a wholesale value on your jewelry, as the intent is to be able to turn a profit.


Online Cash for Gold Options


There are several cash for gold outlets to be found online. Auction sites such as e-Bay, as well as online classifieds, like Craigslist, are commonly used venues for the sale of jewelry. If youe going to sell your gold or other jewelry through these outlets, however Scarpe Adidas Superstar W Pelle Footwear Bianche Power Rosse Scontate , it is extremely important that you have thoroughly researched the value of the pieces you intend to sell in order to ensure maximum profitability. Dedicated cash for gold websites are another option, many of which offer a guarantee of fair market value as well as quick processing for fast cash.