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Tax Credits for Teachers

Teachers for 2016 and onward can now claim a 15% tax credit on school supplies purchased in the year, up to a maximum of $1,000 purchased in the calendar year.

In order to claim this tax credit:

  1. the teacher must have a valid certificate in the province where employed; or
  2. the teacher must have a certificate or diploma in early childhood education that is recognized in the province where employed.

The supplies must be used in a school or a regulated child care facility for teaching or helping students learn, not reimbursable and the supplies are not deducted in calculating any person’s taxable income.

  • Examples of supplies include:
  • Construction paper
  • Flashcards
  • Items for science experiments
  • Art supplies
  • Writing material
  • Games and puzzles
  • Books for the classroom

Caution as the CRA may ask for a certification signed by the teacher’s employer that attests to the amount paid for eligible teaching supplies purchased in the year.

This is a great tax credit for teachers given the cost they invest in students each year.

If you want additional information in relation to the tax credit, please contact me.

Beware of Selling Your Principal Residence
 

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