Tuition Fee Deductibility
Tuition Fee Amount
Knowledge Bureau is a private, certified post-secondary educational institution that provides courses that furnish its students with skills for, or improve a person's skills in, an occupation. Its tuition fees qualify for tax credit. Established in 2003 by Founder and President Evelyn Jacks, it focuses specifically on providing world class financial education required for professionals in the tax, accounting and financial services.
Tuition fees paid in excess of $100 qualify for the tuition fee amount. This includes the fees for all self-study courses, the CE Summits and the Distinguished Advisor Conference™ (DAC). It is an important option for the partial recovery of costs paid by employees who fund their own conference fees. To claim the deduction on your tax return, you’ll need a completed Form T2202A, Tuition and Enrolment Certificate which is available through Knowledge Bureau. Simply Logon to the Virtual Campus and go to the Administration section for access to your Form T2202A.
Tax Deductibility by the Self Employed
Tuition fees for self-study courses, workshops and educational conferencing may also be tax deductible by self-employed professionals as a business expense. Your normal receipt for your payment to Knowledge Bureau is your documentation for the expense claim.
The Distinguished Advisor Conference™ (DAC) is held in locales where Canadians go to retire to determine the economic, retirement, investment, currency, health risk management and tax environment for which tax and wealth planning is required. This makes the educational programming unique and specific to the wealth management needs of clients and unavailable elsewhere in North America. Expenditures may be deductible; however, delegates should seek professional advice for their personal circumstances. A maximum of two conventions per year only are claimable and the business must have a reasonable expectation of profit. Several other criteria may exist for out of country conventions. See IT-357 for more information or call 1-866-953-4769 if you need assistance.