grad-hatObtaining a post secondary education is costly. Use that cost to your advantage and claim the Education and Tuition tax credit.

Not all the fees paid are deductible for tax purposes so be sure to access your T2202A. In most cases, these forms are no longer mailed out – they are generally sent to the student’s in-box.

If you are paying for your child’s eduction, you may be able to claim up to $5,000 of the costs by way of an education transfer. Your child must complete the back of the form assigning their unused credit to you.

Continuing education is often a life long venture. If your employer is paying for all or a portion of your continued education, your claim for the Education amount may be restricted.