Tips for students

If you have unused tuition amounts carried forward from prior years, you should know that they can only be used on your own return. They cannot be transferred to a spouse, parent or grand-parent as regular tuition and education amounts can.

You cannot claim expenses such as board and lodging, or student association fees as tuition expenses, nor can you deduct tuition expenses paid for by your parents or your parent's employer (unless it was included in your income or in your parent's). Remember: You can only claim fees if more than $100 has been paid to each relevant education institution for the year.

The education amount is in addition to the tuition amount. It cannot be claimed if you received a reimbursement, benefit, grant, or allowance, or if the education program you attended was related to your job and you received a salary or wages while studying.

Interest on federally or provincially approved student loans can be claimed by the student as a tax credit, after 1997, and can be carried forward. When you negotiate your loan, ensure that it is eligible for this credit. Do not lose track of these interest amounts as they can really save tax in the future.

Family members who file their taxes together save taxes together. Remember, the program will transfer tuition amounts to spouses, parents or grandparents if all family members' data is entered. Overrides are available for more flexibility.

If you are a full-time student and move at least 40 kilometres closer to your school, you might be able to claim moving expenses.

All or part of your tuition and education amounts may be claimed by your spouse, a parent or a grandparent. The program will transfer tuition amounts to another person to the extent that this person can use them. That way, you can carry forward as much as possible to use in a future year.