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TaxTim says: 23 July 2012 at 13:27 Unfortunately MBA costs cannot be deducted for income tax purposes. Doing an MBA is seen as a way of improving your income earning ability not as actually earning income. So for tax purposes it is seen as more of a capital investment and despite it being directly related to your employment it does not result in extra income. I wish I had better news for you, if you could push your employer to pay these costs somehow, they could claim a tax deduction for a portion of the costs. If you have any further questions, please feel free to ask away. |
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