Question

Julio and Maria are planning for their children to continue their education after
grade 12. They would like to know the types of tuition fees that are eligible for
the tuition fees tax credit and whether they can claim this credit if they pay for
their children's education.(In Canada)

Answer 1

In Canada the Education is divided in two parts first is Secondary and the other is post Secondary. Secondary means education till class 12th(apart from quebec where 12th grade is considered as post secondary). The other part is college which means education in college and after 12th grade.

The canadian government gives Tuition fees credit in the form of tax rebates(deduction in the amount of taxes ) to the students. The credits are given to promote education and reduce burden of taxes on the student. These credits are non refundable i.e. they are only available as deduction they can not be redeemed in cash. These credits can be carried forward to future years. The credits can also be transferred to family members like spouse and parents.The amount of Tuition fees should not be reimbursed by the employer.The person should be 16 years or older

Here in the above case Julio and Maria want their children to carry on education after class 12th i.e. they want their chidren to pursue post secondary education. The Students themselves will be eligible for tuition fees tax credits. The Students can transfer these credits to their parents and then their parents can enjoy the benefit of these tax credit.Therefore Julio and Maria can claim the benefit of the tax credit earned by their children.

Thanking You

Hoping for a positive response