To calculate the tuition tax credit for the 2022 tax year, take the total eligible tuition amount and multiply it by 15%. (Your eligible costs include tuition and applicable fees, and you’ll get the total when you receive your T2202 Certificate or other paperwork from your educational institution).
The software will apply any eligible credit to reduce or eliminate tax payable. Your only choice is to carry forward or transfer, and only credit earned in the current tax year can betransferred.
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