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New Member
posted Apr 25, 2024 8:59:34 PM

Can I deduct my college fees in Canada as a tax expense?

I am a college student in Toronto and am also self employed and paying for my studies, can I write off my college fees on my taxes?

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1 Replies
Level 3
Apr 26, 2024 12:25:42 PM

In Canada, college fees aren't deducted as a tax expense, but you can claim a tax credit called the Tuition Tax Credit.


The tuition tax credit is a non-refundable tax credit available to post-secondary students. This means that if you pay for tuition and other educational costs (under certain conditions), you can let the Canada Revenue Agency (CRA) know when you’re filing your taxes, and they’ll lower your tax bill, either now or in the future.

 

For more information, please read 

Understanding the Tuition Tax Credit in Canada: All You Need to Know

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