Claiming School Expenses
Post secondary education can be very pricey, so it is beneficial to know what is and is not claimable on your income tax return. Below is a list of the eligible and ineligible tuition fees, education and textbook amounts.
Claiming Tuition Fees:
In order to qualify the post secondary institution must be an accredited institution certified by Human Resources and Social Development Canada (HRSDC). In addition, the tuition fee may only be claimed in the tax year you attended school in order to qualify.
If your fees were paid or reimbursed to you by your employer, your parents, or one of your parents employers, the payment or reimbursement must be included in yours or your parent’s income in order to qualify.
Please note also that the tuition fee must have exceeded $100 in order to qualify.
The following list of items are not claimable:
§ Meals and lodging
§ Transportation or parking
§ Student fees such as, social or athletic
§ Entrance or initiation fees to an organization
§ Medical aid
§ Cost of books and visual aid items such as CD’s, cassettes and DVD’s.
§ Microscopes, computers, and uniforms.
Claiming Education Amounts:
You can claim your education tuition for each whole or part month in which you were enrolled in a qualifying educational program or institution at a post-secondary level.
You can claim only one education amount, either the full time or part time amount
See your information slip from the post-secondary institution.
Below is a list of the maximum claimable amounts:
§ $400 per month is the maximum claim for full time enrollment
§ $120 is the maximum per month you can claim on part time enrollment
§ If you have an impairment or disability that allows you to go to school part time, you can claim $400 per month.
Below is a list of non-claimable education amounts:
§ Received a benefit, such as meal and lodging, as part of a program
§ Received an allowance from program, such as a training allowance
§ Received a grant
§ If your employer reimbursed the cost of the courses.
Claiming Textbook Amounts:
A textbook amount claim may only be made if you are eligible to claim the education amount.
You may only claim one textbook amount for each month you qualified for full time or part time education amounts.
The maximum claim amounts are:
§ $65 for each month you qualified for the full time education amount.
§ $20 for each month you qualified for the part time education amount.
As it is impossible to include all situations, circumstances and exceptions, contact Dustin for a further review or for further explanation. Every effort has been made to ensure the accuracy of the information. However, because of the nature of the subject, no person or firm involved in the preparation or distribution of this commentary accepts any liability for its contents or use.