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How Can You Fund Your Knowledge Bureau Education?
There are numerous funding options to help make your professional studies more affordable, including financing available through Knowledge Bureau, funding through each student’s own tax-assisted savings plans, and tax assistance through various CRA tax incentives. However, what can be deducted depends on who you are and what programs you will be involved in.
Please note: funding options in this article current as of May 7, 2025: please visit Funding Options on our website for updates.
Knowledge Bureau is certified by the Minister of Employment and Social Development Canada (ESDC) as an educational institution providing courses (other than courses designed for university credit) that furnish a person with skills for or improve a person’s skills in, an occupation. An occupation, for this purpose, is considered to be employment as well as a profession, vocation, or trade.
Funding Assistance from Knowledge Bureau
Tuition Fee Deductibility
Tuition fees paid to Knowledge Bureau qualify for the tuition fee credit.
RRSP Lifelong Learning Plan
Knowledge Bureau will consider the student to be in full-time attendance for purposes of funding under the RRSP Lifelong Learning Plan if that student enrolls in a Designation Program. To qualify, the Designation Program must be completed within a six-month enrolment period. Otherwise, the student is considered to be enrolled in part-time attendance with Knowledge Bureau.
Expense Deductibility
In some cases, self-employed students may claim the cost of training as a business deduction. Students are referred to IT 357R2 for CRA’s interpretation of the rules. Of specific note in the bulletin: training costs are not deductible as current expenses if they are capital expenditures (that is, they result in a lasting benefit to the taxpayer i.e., where a new skill or qualification is acquired, training as a specialist). In this case, students should consider using the tuition fee credit instead. However, if training is to maintain, update or up
grade an existing skill or qualification, the related costs are deductible as a current expense. Examples of fully deductible programs: A professional development course is taken as required or recommended by a professional body to maintain professional standards, a tax course is taken by a lawyer or accountant who is qualified to do tax work, whether or not he or she has previously been actively involved in such work. Any portion of costs that are personal or unreasonable is not deductible.
Government Programs and Grants
There are several Government programs and grants that may be available to assist employers and employees. The following links present the programs available at the Federal level as well as for each Province:
Federal
Employment and Social Development Canada
Provinces and Territories
Self-Funding Options – Tax Preferred Education Savings
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 Acuity Conference. 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 T2202, Tuition and Enrolment Certificate which is available through Knowledge Bureau. Simply log in to Your Virtual Campus and go to the Administration section for access to your T2202 Form.
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 Acuity Conference 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.
