Friday, 10 March 2023

Canada tax return university student province of residence which income tax package should you use?


For example, if you usually reside in Ontario, but you were going to school in Alberta,
you would use the income tax package for Ontario.

Thursday, 9 March 2023

Canada tax return tuition amount transfer

The tuition amount can be transferred to their parent, grandparent or spouse/common-law partner.
the student needs to:
1. fill in the T2202 last section and put signature and date and send a copy to transferee.
2. enter transferred amount to line 32700 in tax return software.
the transferee:
Claim the transferred amount on line 32400 on T1 Geneal form, line 32400 is linked field, double click it and it will pop out a form,
enter federal tuition transfer amount and provincial transfer amount in the popped out form.

It is important to note that if one spouse is eligible to claim a spouse or common-law partner amount on line 30300 for the student,
parents and grandparents are not eligible to receive a tuition transfer; in this case, it must be transferred to the spouse (or carried forward).

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