[Extract]Education to acquire a skill is a capital asset. Expenditure to create this asset is distinct from the revenue-related expenditure to maintain education skills. The present law on deductibility requires that the taxpayer be in an established career already, and that the education expenditure be to ensure advancement in that career, and lead to promotion and increased income in that career. As the tax law stands, the cost of education to acquire new skills is not deductible.
Bentley, Duncan and Corkery, Jim
"Deductibility of Education Fees,"
Revenue Law Journal: Vol. 12
, Article 1.
Available at: http://epublications.bond.edu.au/rlj/vol12/iss1/1