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Training Costs

Training costs do have some conditions that have to be met for them to be tax deductible business expenses. Firstly they must upgrade or enhance your current skills that your company already generates income from. If the training goes further than this and teaches you completely new skills, the cost of the training will not be a business expense but instead a capital expense.

A good example would be an Engineering Contractor who takes a course in Environmental Engineering which is relevant to his current contracts and income. This would be allowable. Where as the same contractor taking a course in Business Development Management would be a new skill that the contractor was acquiring and therefore not a tax deductible business expense.


This information is for general information only. We take no responsibility for any action taken or refrained from in consequence of its contents. Always seek our professional advice specific to your circumstances before acting.