Keep Your Receipts! Government Details Tax Relief Measures For Post-Secondary Students

Post-Secondary students are being reminded to hang on to their receipts: tax relief is right around the corner!

Minister of National Revue, Kerry-Lynne D. Findlay, and Susan Truppe, Member of Parliament for London North Centre, are reminding post-secondary students to keep their receipts in order to take full advantage of available tax relief for college and university students.

“Our Government is committed to supporting Canadian families by keeping taxes low. We will continue to offer tax relief measures to Canadians who are studying to get a post-secondary education,” says Minister Findlay.

“Students and their families are faced with significant costs for tuition and enrolment in post-secondary educational programs. At the same time, post-secondary education is increasingly important in a global marketplace and a significant contributor to Canada’s economic growth and global competitiveness.”

Post-secondary students will be able to:

• claim post-secondary tuition fees paid to Canadian universities, colleges or other educational institutions;
• claim fees paid for courses certified by Employment and Social Development Canada that develop or improve occupational skills;
• claim an education amount of $400 for each whole or part month in the year in which they are full-time students in a qualifying educational program, or $120 per month for part-time enrolment in a specified educational program at a designated educational institution;
• claim a textbook amount of $65 for each month they qualify for the full-time education amount or $20 for each part-time month;
• Possibly qualify for the GST/HST credit;
• Claim a deduction for their moving expenses if they moved to study full-time.
• Claim amounts for interest paid on student loans
• Claim the public transit tax credit for the cost of travel

“Our Government wants to ensure students take advantage of all the tax credits they are eligible for and keep their hard-earned dollars,” said Truppe. “At this time of the year, with students going back to school, it is important to remind them to keep their receipts in order to claim tax credits when filing their return during tax season and take advantage of the important financial relief available to them all year long.”

According to Revenue Minister Findlay, these tax reliefs can save the average family over $3,200 in taxes.