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How do you calculate tuition tax credit in Canada?


sorry, I wasn't clear. I went to a university in the US and total tuition was $100000. How do I calculate how much I can deduct from my current income in Canada?

Form T2202A (Tuition and Education Tax Credit)

In Canada, you may be able to reduce income tax payable by claiming tax credits for enrolment in and payment of tuition and academic fees for University鈥檚 credit courses. To be eligible for the tax credit, the total of such fees paid to an educational institution in Canada for the year must exceed $100. Fees paid to the Students鈥?Union and Alumni Relations are not eligible for inclusion in the tuition tax credit.

The calendar year for which the fees are paid, not the date on which the fees are paid, is used to calculate eligible tuition fees. Tuition fees paid for courses that extend beyond the calendar year-end will be pro-rated on the T2202A according to the period of course delivery pertaining to each calendar year. For example, if a course has an October 1 start date and a March 31 contract end date, only 50 percent of the tuition fee representing the October through December period will be reflected in the current year tax credit certificate. The remaining 50 percent, representing January through March, will be reflected on the following year鈥檚 T2202A.

For further information, see Income Tax Information Circular IT-516R2 Tuition Tax Credit i http://www.cra-arc.gc.ca/E/pub/tp/it516r...

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