Coming into effect for the 2017 taxation year, the federal textbook tax credits will be eliminated. This credit was $400/month for full-time students and $65/month for part-time students. Even with this change, taxpayers will still be able to carry forward the education and textbook credit amounts from tax years prior to 2017. The federal tuition tax credit will not be eliminated as a result of this measure. If you think this might impact you or have questions, contact us.
The Eligible Educator School Supply Tax Credit is a new refundable tax credit for 2016. You can claim a 15% credit on up to $1,000 of school supplies purchased each year if you are an eligible educator. An eligible educator is considered a teacher or early childhood educator working at a regulated child care facility, elementary school or secondary school. Supplies that are eligible must be used in the facility for teaching purposes and must not be subject to reimbursement, a