Back to School Tax Tip #3

Non-Refundable Tax Credits

The most common post-secondary non-refundable tax credits that apply to students are interest paid on student loans, the tuition, education and textbook amounts, the public transit amount, and the Canada employment amount.

Tuition, Education and Textbook Amounts

You can claim the education credit of $400 for full time and $120 part time for each whole or partial month in which you were enrolled in a qualifying education program. Disabled part-timers can receive the full credit of $400.In addition to obtaining a tax credit for tuition fees paid, this tax credit also covers mandatory fees such as student services, library and lab charges, athletics, certain ancillary fees, computer services, exams, certificates and diplomas. Post-secondary students can claim a textbook tax credit of $65 per month for full-time and $20 per month for part-time studies