Are tuition payments tax deductible?
Under certain conditions Canadian tax law may provide tax relief for certain individuals. Typically, this relief falls under three categories:
Child Care Expense
Where a child is under 16 years of age, that portion of fees attributable to lodging at a boarding school may be eligible for a Child Care Expense Deduction under Canadian Tax Law.
Medical Expense and Disability Tax Credits and Attendant Care Expense Deduction
The costs paid for the care, or the care and training, of a patient at a school, institution or other place may qualify as a medical expense credit providing certain criteria are met. To learn more, read the Canadian Revenue Agency TaxFolio S1-F1-C1: Medical Expense Tax Credit
Health & Welfare Trust
Certain individuals who own an incorporated business may benefit from utilizing a Health and Welfare Trust solution for the payment of school fees. To learn more, read the Canadian Revenue Agency Tax Folio S2-F1-C1: Health and Welfare Trusts or read an article published by Peter Merrick entitled How to Legally Write-off Learning Disability Expenses as Business Expenses.
The preceding resources are offered for informational purposes only. Applewood Academy does not guarantee or warranty the accuracy of the information or one’s eligibility under any of these options. We recognize that each case is unique and subject to interpretation by others, including the Canada Revenue Agency, and is judged upon its own merit. Should you require any further resource information, please contact Laurie Carr by email [email protected] or contact our office at 613-962-1042.