School tax relief for students
Aug 31, 2013 / 5:00 am
The September long weekend to me has often meant one last chance to go camping and/or spending time with family and friends before the hustle and bustle of the back to school season kicks in. However, the reality is that it is now more important than ever before to make sure you get a good education to help ensure you have a solid foundation for your future.
Global economies are becoming increasingly competitive, and post-secondary education holds the key to maintaining Canada’s edge in the global marketplace. Our Government recognizes that strong policies to support Canadians who pursue post-secondary education are one of the most important strategies we can put in place to ensure long-term economic growth for Canada.
Canada is one of the most prosperous countries in the world. Education has long been established as a key driver of long-term prosperity. According to a recent study published by the Organization for Economic Co-operation and Development (OECD), Canada ranks first among OECD countries in the proportion of adults with post-secondary education. Our Government understands this and continues to support post-secondary education through tax relief measures such as:
- Students can claim tuition fees paid to a university, college, or other educational institution in Canada for courses taken at the post-secondary level. Tuition fees paid for courses certified by Employment and Social Development Canada to develop or improve skills in an occupation also qualifies.
- Students can claim an education amount of $400 for each whole or part month in the year in which they are enrolled full-time in a qualifying educational program, or $120 per month for part-time enrolment in a specified educational program, at a designated educational institution.
- Students can claim a textbook amount of $65 for each month where they qualify for the full-time education amount or $20 for each part-time month.
Last year alone, Canadian students and their families claimed more than $11 billion in financial assistance. This government will continue to stand behind our students as they strive to make Canada more competitive and prosperous.
Whether starting your first year or returning to the classroom at UBCO, Okanagan College or any of the numerous private schools, in order to ensure you receive all the educational tax relief you are entitled to, I encourage you to go to www.cra.gc.ca/students on the Canada Revenue Agency’s Web site to see more information on the tuition, education, and textbook tax credits, and other information specifically for students,
“I have never let my schooling interfere with my education.”
P.S. - Just a reminder to slow down in school zones to keep our future post-secondary students safe.
Okanagan Volunteer Opportunities Fair
I would also like to remind folks that on Saturday, September 7, 2013 the Okanagan Volunteer Opportunities Fair is happening at Parkinson Recreation Centre
1800 Parkinson Way, Kelowna, from 10 AM – 3 PM.
For volunteers, this event represents a one-of-a-kind opportunity to learn about each organization, and how their personal involvement can make a difference in our community. I encourage everyone to go and find out how we can all come together to help make Kelowna – Lake Country a great place to live!
The Honourable Ron Cannan is the Member of Parliament for Kelowna-Lake Country and welcomes your feedback at [email protected]. Information on local announcements and federal government programs can be found at www.cannan.ca.
Read more MP Report articles
- Local Vets win Dec 7
- WINNs of Change Nov 16
- Saving the Line Oct 26
- October is Women's History Month Oct 12
- Tax savings for seniors Sep 28
- School tax relief for students Aug 31
- New option for Old Age Security Aug 3
- Plain language labelling Jul 20
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