Tax on knowledge

I called with the taxman yesterday to clarify some stuff. I had surmised that profesionally relevant books could be deducted as expenses. Now it seems there is a very fine distinction.

Profesionally relevant books which are being used to remain up to date in a given field of knowledge are deductable. Books which you are using to deepen and widen your knowledge however are study books and these as such are not deductable.

This is of course pure semantics and it can never be proved that you are using books either way, so given an audit just be sure never to mention the word “study” and you’ll be fine.

And to think our government is trying to create a knowledge economy.

One thought on “Tax on knowledge”

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.