Let’s look at the most common tax credits and deductions that students may be eligible to claim.

Students may claim a non-refundable tax credit for any eligible tuition and education amounts incurred in the year.

Eligible tuition amounts normally include (if the total fees are greater than $100) tuition fees for courses at a post-secondary school level paid to a university, college or other educational institution in Canada, certified by the Minister of Human Resources and Social Development (most university-level educational institutions outside of Canada also qualify).

The students must be at least 16 years old at the end of the taxation year, and the courses must be taken to provide or improve upon occupational skills.

In the past, the only credit available to offset some of the additional costs of going to school, including books, board and lodging, was the education amount. The education amount is available as a tax credit to full and part-time students enrolled in a qualifying educational program.