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Are study costs deductible?
Did you incur study costs? They might be deductible!
Did you incur study costs? In some cases they are deductible. However, you have to meet several requirements when you want to declare your study costs in your tax return. On this page, we will explain which requirements you should fulfill to qualify for tax-deductible study costs.
If you want to declare the incurred costs in your annual income statement, you have to meet several requirements:
- Firstly, you are not entitled to a study grant;
- Also, the education you are going to follow is needed for your current or future job and is a learning path (leertraject). An education is qualified as a leertraject when you get guidance during your studies.
What costs are deductible?
Only the necessary study costs are deductible. You can think of tuition fees or examination fees and educational tools which are necessary for your studies. Examples of necessary education tools are books, software, protective clothes, etc.
What costs are not deductible?
- The costs of acquiring a laptop, tablet, or printer;
- Interest on your student loan;
- Travel costs;
- Study costs of your children.
What amount is deductible?
- First, add the qualifying study costs;
- Then, subtract the threshold of 250 euros;
- Do you receive compensation from your employer for your study costs? Deduct this compensation from the amount determined at point 2.
The remaining amount is deductible when you file your annual tax return. The study costs are deductible in the year you made them.
The maximum deductible amount is €15.000. There is an exception for people younger than 30 years who are in their standard study period. In this case, there is no maximum deductible amount.
We are happy to help you!
The TaxSavers is happy to help you get the most out of the deductible items with your annual tax return or provisional assessment. A provisional assessment ensures that you receive a monthly refund from the tax authorities.
Do you have questions regarding deductible study costs or other tax-related matters? Fill in our contact form or give us a call on +31 (0)20 – 2170120.