12 /
Notes, continued
(21) Amounts paid for tuition and mandatory ancillary fees in respect of the calendar year are
eligible for federal and provincial tax credits.
Students may also claim for federal purposes a monthly amount in respect of the cost of
textbooks, which is added to the monthly education amount. The monthly textbook credit
amount is $65 for full-time students and $20 for part-time students.
The federal pension and education and textbook credit amounts are not indexed. The same
is true for all provinces, with the exception of Alberta and Ontario.
The tuition, education and textbook credits are transferable to a spouse or common-law
partner, parent or grandparent. The maximum amount transferable is $5,000 (indexed in
some provinces) less the excess of the student’s net income over the basic personal credit
amount. Any amounts not transferred may be carried forward indefinitely by the student.
Interest paid on student loans is also eligible for both a federal and provincial tax credit. The
tax credit must be claimed by the student, and can be carried forward for five years.
(22) Charitable donations made by both spouses/partners may be totalled and claimed by
either person. The maximum amount of donations that may be claimed in a year is 75%
of net income. However, all donations may be carried forward for five years if they are not
claimed in the year made.
The 2013 federal budget introduced a new temporary charitable donor’s super credit to
supplement the existing donation tax credit. A first-time donor would be entitled to a one-
time 40% federal credit for money donations of $200 or less, and a 54% federal credit for
donations between $200 and $1000. An individual would be considered a first-time donor
if neither the individual nor the individual’s spouse or common-law partner had claimed the
charitable donations tax credit or first-time donor’s super credit in any taxation year after
2007.
New Brunswick’s tax credit rate for donations over $200 is 17.95% but the legislation has
not yet been amended to reflect this rate.
Federal and Provincial Non-Refundable Tax Credit Rates and
Amounts for 2013
© 2013 KPMG LLP, a Canadian limited liability partnership and a member firm of the KPMG network of independent member firms
affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
Current as of September 30, 2013