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Can you deduct student fees?



I am a manager currently studying for an accredited MBA which is funded entirely by myself because the company I work for does not have a policy of paying for training and development costs. The MBA is directly related to my work as a manager. I am studying part time and working full time. Can I deduct the student fees, textbooks, stationery and registration costs ? These are sizeable amounts.

TaxTim 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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