For the 2017 tax year, educational institutions may need to change the way they complete tax forms they issue to students.
In Budget 2016, the federal government increased the access to assistance for students by eliminating the education and textbook tax credits, effective January 1, 2017, allowing the government to provide more assistance to students from low and middle income families through Canada Student Grants. Unused education and textbook credit amounts carried forward from years prior to 2017 will remain available to be claimed in 2017 and subsequent years.
Certain provinces have also made changes to the tuition, education, and textbook amounts that can be claimed for 2017 and later years. As some of these changes apply mid-year, educational institutions may need to change the way they complete the Form T2202A, Tuition and Enrolment Certificate, and related forms for the 2017 tax year. For complete information, please refer to the attached important update.