Education Programs

The Financial Advisors Association of Canada

Eligible to claim tuition and education amount credits?

[Updated for 2004]

Are you eligible to claim the tuition and part-time education amount credits for your Advocis courses?

Determining whether you can claim these credits is especially complex when you are a working student.

You are responsible for ensuring that you meet ALL eligibility requirements before claiming the tuition or education amount credit on your income tax return. Review your income tax forms and guides carefully. You should also refer to the CRA’s pamphlet “Students and Income Tax”, [PDF document] which discusses the tuition and education amount credits in some detail.

Two common questions and their answers appear below.

Q. I am working while I study. Does this affect my eligibility to claim the credits?

A. The tuition and education amount credits can be claimed while you are working, assuming all other requirements are met.

New! Note that before 2004, an employee taking job-related courses could not claim the education amount credit if he or she earned employment income during the course enrolment period. The 2004 federal budget removed this restriction.

Q. My company paid for my tuition. Can I still claim the tuition and part-time education amount credits?

A. If you are an employee, you may not claim the tuition credit if your employer paid for (or reimbursed you for) the cost of your course, unless the amount was reported as part of your income. Check with your employer.

You cannot claim the education amount credit if you received an allowance or reimbursement for any course-related expenses from an arm’s-length person*, regardless of whether the amount was reported in your income.

* This does not apply to scholarships, student loans from the government, or amounts received under certain government training programs.

If you have any questions about the information reported on your Tuition and Education Certificate (T2202A) from Advocis, please contact Advocis Member services:

E-mail: info@advocis.ca
OR
Telephone: 1-877-773-6765