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Tuition fee and other costs – deduction

Tuition fee for an MBA course or for a university degree is substantial. The study most of the time requires your full attention, hence a job besides the study is not always possible. The result is that you do have study costs, but no income to set them off against. How can you benefit from the study costs deduction?

The study you have done had the purpose to improve your economic position or to increase your career possibilities. Most likely you have found an employment after you finished the education. That implies you do have a taxable income now.

If you now file the tax return for the years during which you paid the tuition fee, then these tax returns show study costs being made. As there was not taxable income in that year, the study cost is carried forward to the next year, until the year arrives during which you did have income. That is the year that will result in a refund due to the study costs made in the previous years.

The maximum period you can go back is five years (2009), the threshold per year is EUR 500 and the maximum amount of deduction is EUR 15.000 per year. You need to file all relevant years to get to the tax benefit. We will be glad to assist you.

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