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Changing Unused Tuition Credit Amount

My son was completing his taxes yesterday and end result was he is owing roughly $500. He went to use his Unused Credit and it "automagically" took his full amount of credit and he is ending up with roughly $3,000 to the good. 

He would like to utilize this feature to bring his net owing to $0 and maintain the remainder of his unused for a later time. 

So first off, can he do this? (I would think so) And 2nd, how does he go about changing the value to the appropriate amount?

1 Reply

Changing Unused Tuition Credit Amount

There is no way to change how much tuition is being used. The CRA not only requires tuition to be used to reduce taxes owing, but also requires it to be used before some other deductions & credits, so you can't "save" any for later. 

 

 

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