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Post-Secondary Students and Tuition Deduction

February 15, 2013

Post-secondary students are always looking for tax breaks to help with their tax burden. One major tax deduction is your tuition and education amount each year. If your tuition fees are more than $100 in a calendar year to any one institution for courses taken at the post-secondary level, be sure that you get your T2202A form (Education and Textbook Amounts Certificate) from your educational institution each year. These days, the form is normally available online through your school, sometime in February.

If you attend a university outside of Canada, you need to make sure that you give your school a TL11A form (Tuition, Education, and Textbook Amounts Certificate – University Outside Canada). This is equivalent to the Canadian T2202A form. For more information on Educational Institutions Outside of Canada, go to CRA’s website and get the information sheet RC192.

Students must make the tuition and education amount claim first on their tax return and then you can transfer your unused current-year amounts to one designated individual who is your spouse, parent or grandparent. If you do a transfer, be sure that you fill out the designation section of the form. You do not need to keep your textbook receipts. Students calculate the education and textbook amounts based on the number of months indicated on the T2202A or TL11A forms.

If you would like more information on this topic, please contact a member of the Empire CPA team by filling out the contact form below.

Canadian and foreign tax laws are complex and have a tendency to change on a frequent basis. As such, the content published above is believed to be accurate as of the date of this post. Before implementing any tax planning, please seek professional advice from a qualified tax professional. Empire, Chartered Professional Accountants will not accept any liability for any tax ramifications that may result from acting based on the information contained above.

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