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I took a course that cost me $2000, it was to further my education in my career. I am now wondering how much of that $2000 I will get back when I claim it on my taxes.

 
2 Replies

I took a course that cost me $2000, it was to further my education in my career. I am now wondering how much of that $2000 I will get back when I claim it on my taxes.

It depends on how you are claiming the tuition.

 

If you have a T2202A, TL11 or a receipt that says the tuition is eligible, you can claim the tuition to get the Federal (and in some provinces, Provincial) Tuition Credit. This is a non-refundable credit, so you won’t get any money back, but you can use it to reduce your tax payable. You can also transfer it to a spouse, parent or grandparent so they can reduce their tax owing. Unused tuition will carry forward to future years until it’s used. https://turbotax.community.intuit.ca/replies/2647973

 

If your employer required you to take the course and you have a T2200 from them, then you can claim it as an employment expense. Depending on whether you were reimbursed or are a commission employee, you may be able to claim all or some of the $2000.

 

If you are self-employed, you may be able to claim the full cost of the course if it’s just to maintain, update or upgrade an already existing skill or qualification. If you needed the course to acquire a skill that you don’t currently have, then the CRA would consider the training a “Capital” expense. You would not be able to deduct the cost of a capital expense.


jwu565
Returning Member

I took a course that cost me $2000, it was to further my education in my career. I am now wondering how much of that $2000 I will get back when I claim it on my taxes.

which form/line should I claim this $2000 under self-employee? Thanks