My daugter is now studying in the university and has no any income. Assuming the same situation for four years, she will have pretty large unused tiotion and other amounts credit leftover after filing her tax return and transferring to us every year.
Yes, the tuition can be carried forward to a future year when she has income and used to reduce taxes payable. She can also transfer part of her current year tuition to a spouse, parent or grandparent to reduce their taxes payable. https://turbotax.community.intuit.ca/replies/2648040
Yes, the tuition can be carried forward to a future year when she has income and used to reduce taxes payable. She can also transfer part of her current year tuition to a spouse, parent or grandparent to reduce their taxes payable. https://turbotax.community.intuit.ca/replies/2648040
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