Tax for Financial Planners Australia
This page is for financial planners and advisers who want a clearer picture of common deductions including FASEA exam and education costs, CPD, AFSL fees, planning software, client travel, and professional indemnity insurance.
Quick answer: financial planners can often claim FASEA exam fees, approved education and CPD, AFSL or authorised representative fees, planning software subscriptions, travel to client meetings, and professional indemnity insurance. The ATO requires a direct connection between each expense and your current income-earning activity. Client entertainment remains specifically non-deductible.
Common financial planner deductions
Often deductible
- FASEA exam fees and approved education courses (under the self-education provisions)
- CPD courses, conferences, and seminars that maintain or improve current skills
- AFSL fees or authorised representative licence costs
- Financial planning software subscriptions (e.g. Xplan, COIN, Midwinter)
- Car travel to client meetings and professional appointments
- Professional indemnity insurance premiums
- Industry memberships (e.g. FPA, AFA)
- Phone and internet costs apportioned to work use
Often non-deductible
- Client entertainment — meals, drinks, and event tickets (specifically excluded)
- Normal home-to-office commuting costs
- Courses aimed at a completely different profession
- General clothing that is not a compulsory uniform
- Fines or penalties for regulatory breaches
FASEA, CPD, and AFSL checkpoints
- FASEA exam: the cost of sitting the exam and approved degree or bridging courses is generally deductible under the self-education provisions, provided you are already working as a financial planner.
- CPD: continuing professional development that maintains or improves your current advisory skills is generally deductible. Training for a completely different field is not.
- AFSL costs: licence fees and authorised representative fees paid to operate as a financial planner are generally deductible.
- Reimbursements: if your licensee or employer reimburses FASEA, CPD, or insurance costs, you cannot also claim the deduction.
Records financial planners should keep
- Receipts for FASEA exam, education courses, and CPD events
- AFSL or authorised representative fee invoices
- Software subscription invoices showing the period and amount
- Car logbook or records supporting the cents-per-kilometre claim for client travel
- Professional indemnity insurance policy and premium records
- Phone and internet bills with a reasonable basis for the work-use percentage
- Evidence of any licensee or employer reimbursement to avoid double-claiming
Start with these calculators
Tax return calculator
Estimate the refund impact of your eligible work-related deductions.
Pay calculator
Check take-home pay for weekly, fortnightly, monthly, or annual salary.
Salary sacrifice calculator
Model concessional super contributions against take-home pay.
HELP repayment calculator
Estimate student loan repayments if your income crosses a threshold.
Financial planner tax FAQs
Can financial planners claim FASEA exam and education costs?
Generally yes. The FASEA exam fee and approved education courses are deductible under the self-education provisions, provided you are already working as a financial planner and the study relates to your current role.
Can financial planners claim AFSL and authorised representative costs?
Yes, where the fees are directly related to earning your financial planning income and you pay them yourself.
Is professional indemnity insurance deductible for financial planners?
Yes, where you pay the premium yourself and the cover relates to your current advisory work. If your licensee covers the cost, you cannot claim a deduction.
Tax Accuracy & Sources
This guide summarises common financial planner deduction patterns only. Always check whether the expense was reimbursed, whether any private element needs apportionment, and whether the education meets the self-education provisions.
Uses 2025-26 ATO rates.