The Canada Training Credit is a new refundable tax credit to help Canadians with the cost of training fees. The credit accumulates at a rate of $250 per year, up to a lifetime training amount limit of $5,000.

To be eligible, you need to be a worker:

  • with at least $10,000 in earnings for work (including maternity or parental leave benefits)
  • with an income below about $150,000
  • between the ages of 25 and 64

The credit could be used to claim a refundable tax credit for up to half of the eligible tuition and fees for taking a course or enrolling in a training program. An individual's training amount limit would be included in the information the Canada Revenue Agency sends them each year. As this is a new program for the 2020 tax year, please seek out information and updates through the Government of Canada website.

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