If you have leftover tuition after reducing your taxes to zero, you can transfer unused amounts to a parent, grandparent, or partner to help reduce their tax liability.
Before you begin
As a student, you must claim the tuition amount on your own return before transferring it. Reduce your tax to zero (as calculated on Schedule 11) before transferring any leftover amounts.
Note: If you didn't pay any tuition in the current year, you won't have any amount available to transfer, even if you have unused credits from previous years. Only the student can claim unused tuition amounts from previous years.
Transfer limits
The transferable amount is automatically determined:
- Federal: Maximum of $5,000 of the current year's tuition.
- Provincial: Maximums vary by province and territory.
The transfer amount is calculated by deducting any amount you used to reduce your own tax owing from the federal or provincial maximum.
How to transfer your unused tuition (for students)
- Log into your Wealthsimple account
- Select the Tax tab
- Choose or start a tax profile
- Add the Tuition and Education Amounts section to your Wealthsimple Tax profile
- Answer "Yes" to "Were you a post-secondary student?"
- Enter your tuition fees in the table
- If eligible for transfer, the Tuition transfer section will appear (accurate once all return information is entered)
- Enter the amount you wish to transfer and the recipient's name and relationship
Note: When submitting via NETFILE, you don't need to complete the T2202 slip designation, but you may want to provide a copy to the recipient for their records.
How to claim transferred tuition (for parents or grandparents)
- Log into your Wealthsimple account
- Select the Tax tab
- Choose or start a tax profile
- Add the Your Dependants section and fill out their details
- Answer "Yes" to "Did (your dependant) attend a post-secondary program?"
- Under Tuition amount transferred from your dependant, indicate post-secondary attendance and enter transferred amounts
Quebec residents: Also enter amounts from box A of the RL-8, and from the student's Schedule S and/or T.
Transferring unused tuition from a partner
If using linked profiles, the transfer is automatic when the student selects "Yes, transfer this amount to my partner."
If not using linked profiles:
- Log into your Wealthsimple account
- Select the Tax tab
- Choose or start a tax profile
- Navigate to the Your Partner section
- Answer "Yes" to the question "Would you like to transfer your partner's credits?"
- Enter the federal (Tuition amount (Schedule 11), lines 32700 and 32300) and provincial (Tuition and education amounts, line 58560) amounts your partner is transferring
If you need help with entering tuition transfers in Wealthsimple Tax, contact our support team. For specific tax advice please consider consulting with a tax expert.
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