The Budget proposes to amend the Tuition Tax Credit to recognize fees (in excess of $100) paid to an educational institution, professional association, provincial ministry or other similar institution for taking an examination required to obtain a professional status recognized by federal or provincial statute, or to be licensed or certified in order to practice a profession or trade in Canada.
Ancillary fees and charges paid in respect of occupational, trade or professional examinations (e.g., cost of examination materials used during the examination, certain prerequisite study materials) will also be eligible for the credit. Eligible ancillary fees and charges will not include costs for travel, parking, equipment (such as lab coats, calculators, computers or other items of enduring value), or other costs that are currently ineligible for the Tuition Tax Credit.
This amendment will not apply to fees for examinations taken in order to begin study in a profession or field.
This measure will apply to eligible amounts paid in respect of examinations taken in 2011 and subsequent taxation years.