Did you take any courses or training related to your professional education and development in 2020? If so, you may be eligible to claim this credit on your tax return.

This new refundable tax credit was introduced in 2019 to help Canadians with costs associated with tuition or other course-related fees.

To qualify, you must meet the following requirements:

  • You must be between the ages of 26 and 66 years old in the tax year
  • You must be a resident in Canada throughout the year
  • You must have an income of $10,000 or more, that does not exceed the top of the third tax bracket of $150,000

Eligible applicants are entitled to accumulate up to $250 in your CTC limit each year– up to a maximum of $5,000 in a lifetime.
Your CTC limit will be communicated to you each year on your notice of assessment and will be available through the Canada Revenue Agency’s My Account portal. Your 2019 notice of assessment will indicate your CTC limit for 2020 that may be used if you pay eligible tuition and fees for courses taken in 2020, and you want to claim the CTC on your 2020 income tax and benefit return for those fees.

About the Author: Alex Powell

CPA CA, Director

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