I enrolled in a mentorship/skills training in 2022 for a new-to-me occupation that I can eventually start up as my own small at-home business. I am still going through the training modules and have yet to set up a business. Can the cost of this certification be deducted on my 2022 personal tax return by using the Canada Training Credit? I have another "side hustle" so am identifying as self employed on my return. How can I claim this expense, if I can?
Hi @PChanda1, per CRA article: https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/p105/p105-students-...
You can claim the CTC for eligible tuition and other fees paid for courses you took in 2022 if you meet all of these conditions:
The amount you can claim for the CTC each year is an amount up to, but not exceeding, the lesser of:
The key point above is that the tuition was to an eligible educational institution. In most cases the institution would also issue a T2202 form.
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