- A course taken in 2020 at an institution in Canada will qualify for a tuition tax credit if it was either:
- taken at a post-secondary education institution
- for individuals 16 years of age or older at the end of the year, who are developing or improving skills in an occupation and the educational institution has been certified by the Minister of Employment and Social Development Canada
- the federal government eliminated the federal education and textbook tax credits.
- Examination fees paid to an educational institution, professional association, provincial ministry or other similar institution, to take an occupational, trade or professional examination that is required to obtain a professional status recognized by federal or provincial statute, or to be licensed or certified as a tradesperson, to allow you to practice the profession or trade in Canada, may be eligible for the tuition tax credit.
- Students attending school and moving home for summer employment can claim moving expenses against this income to attempt to retain more education credits.
Canada Training Credit
- The Canada training credit (CTC) is a new refundable tax credit available for 2020 and later years to help Canadians with the cost of eligible training fees. The credit may be claimed for tuition and other fees paid for courses you took in the year for which you are claiming the credit.
- Starting in 2019, if you are eligible, you accumulate $250 in your CTC limit each year, up to a maximum of $5,000 in a lifetime.