The Canada Training Credit is a refundable credit for eligible tuition and fees paid for courses taken from 2019 onwards.

Accumulating credit

You may accumulate credit towards your Canada Training Credit limit if you:

• Are between 26 and 65 years old at the end of the tax year
• File a tax return
• Are a Canadian resident throughout the year
• Have sufficient income from eligible sources
• Have individual net income below the top of the third tax bracket

The annual accumulation amount and income thresholds are subject to indexation.

Claiming the credit

To claim the credit, you must:

• File an income tax return
• Have a Canada Training Credit Limit greater than zero
• Be a Canadian resident throughout the year
• Pay tuition or fees to an eligible educational institution
• Have tuition and fees eligible for the existing tuition tax credit

The claimable amount is the lesser of:

• 50% of your eligible tuition for the year
• Your Canada Training Credit Limit

Enter the credit in Wealthsimple Tax

1. Add the Tuition and Education Amounts section to your profile
2. Enter your Canada Training Credit Limit
3. We'll automatically calculate your credit amount

Review the calculation on the federal and provincial Schedule 11 in the Summary > Documents section.

Find your credit limit

Check your previous year's notice of assessment or CRA My Account for your accumulated credit.

Tuition tax credit

You can still claim the tuition tax credit, but it will be reduced by the amount of Canada Training Credit claimed.

For more information, visit the CRA's website on the Canada training credit.

For help entering the Canada Training Credit in Wealthsimple Tax, contact our support team. For advice on maximizing your credits please consider consulting a tax expert.