New $ 250 training credit

Do not forget to claim $ 250 of training credit this year!

 Beginning in 2019, you may be able to accumulate $250 in each year that you are eligible, for use in calculating your Canada training credit for a future year, up to a maximum of $5,000.  

It can be used starting from 2020.

Qualified individuals:

• have filed a tax return for the preceding year
• be at least 26 years of age and not older than 65 years of age (at the end of the year)
• be resident in Canada throughout the preceding year
• have working income of $10,000 or more in the preceding year; and
• have net income for the preceding year that does not exceed the top of the third tax bracket ($147,667 in 2019)

Eligible tuition and fees for the Canada training credit will be the same as under the existing rules for the tuition tax credit. Eligible tuition and fees will include:

• tuition fees
• ancillary fees and charges (e.g., admission fees, exemption fees and charges for a certificate, diploma or degree); and
• examination fees.

The training amount limit can be applied against up to half the cost of eligible training fees. This includes fees paid to a university, college, or other educational institution for courses at a post-secondary level or occupational skills courses certified by the Minister of Employment and Social Development.  

The portion of fees refunded through the CTC reduces the tuition tax credit.