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posted Oct 30, 2019 10:51:47 PM

T2202a Tuition Credits

I will have 66,736 Tuition credits once my 2016 and 2017 return is reassessed. Made very little money in 2018 precisely 7936, taxed 1240. Any advise on how tuition credits are gonna get used up in my case. I understand it will carry forward but how much will. Will all of it carry forward since I made very little in 2018, cause I don't wanna waste this as I am potentially leaving the country end of next year. Is there a limit where if you make this much then credits will be used. Explain please. Thanks.

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Level 11
Oct 30, 2019 10:51:49 PM

Your unused tuition amounts can only lower your tax owing, not make a refund on their own. You should enter the unused amounts each year, even if you don't use them that year.

So, in your case, your income is quite low meaning you'll likely not need any to reduce your tax owing to zero. Therefore, all of your tuition credits will be carried forward. Tuition credits don't expire so if you return to Canada in the future, those credits will be there waiting for you to claim.