12  /

Notes, continued

(22) 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 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.

(23) 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. 

A temporary charitable donor’s super credit supplements the exisiting charitable donation 

tax credit.  A first-time donor is 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 is considered a first-time  donor if neither the individual nor the 

individual’s spouse or common-law partner has claimed the charitable donations tax credit 

or first-time donor’s super credit in any taxation year after 2007. This credit may be claimed 

once in the first-time donor’s 2013 to 2017 taxation years.

Federal and Provincial Non-Refundable Tax Credit Rates and 

Amounts for 2014

© 2014 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 December 31, 2014