Personal Finance

help in layman's terms "Unused tuition and education amounts from prior years"

  • Last Updated:
  • Jul 9th, 2019 8:37 am
[OP]
Newbie
Aug 3, 2009
5 posts

help in layman's terms "Unused tuition and education amounts from prior years"

Hello fellow canucks

I search & found a couple threads on this but, my girlfriends situation is slightly different.
That & I didn't really understand exactly how it worked lol

My girl is from Thailand, she came here & took out a student loan, went to school.
She had someone do her taxes & she owes for 4 straight years.
Roughly $400 per year.

I noticed @ the bottom of each form stating she owed money that she has "Unused tuition and education amounts from prior years"

Can she use this to reduce the amount she owes?
Line 150 says total income $5,020
236 net income $5,020
taxable income $5,020

At the end it says she has a federal amount of $4,330 & a provincial amount of $2,740

Can she somehow use this against what she owes?

Thank you, hopefully someone in here can shed some light on this for us

TT
5 replies
Member
May 24, 2018
286 posts
171 upvotes
Ontario
If the unused amount is from her Notice of Assessment for tax year 2016.
Then it can be used to reduce tax owe for the tax year 2017.

If the unused amount is from her Notice of Assessment for tax year 2017.
Then it can be used to reduce tax owe for the tax year 2018.

Begin from Schedule 11 box 1 for fed tax. reduction. ( & corresponding prov form for prov tax reduction )
Deal Addict
Feb 22, 2007
1939 posts
214 upvotes
Mississauga
this is odd...because even if you don't input these numbers in your tax return software....CRA has them on file and will ALWAYS apply the MAXIMUM they can when you file your returns
Deal Addict
Jan 19, 2017
3022 posts
1625 upvotes
timmytard wrote: Hello fellow canucks

I search & found a couple threads on this but, my girlfriends situation is slightly different.
That & I didn't really understand exactly how it worked lol

My girl is from Thailand, she came here & took out a student loan, went to school.
She had someone do her taxes & she owes for 4 straight years.
Roughly $400 per year.

I noticed @ the bottom of each form stating she owed money that she has "Unused tuition and education amounts from prior years"

Can she use this to reduce the amount she owes?
Line 150 says total income $5,020
236 net income $5,020
taxable income $5,020

At the end it says she has a federal amount of $4,330 & a provincial amount of $2,740

Can she somehow use this against what she owes?

Thank you, hopefully someone in here can shed some light on this for us

TT
if her taxable income is $5,020, sh shouldn't owe any tax since the personal exemption amt is over $10k.
Jr. Member
Dec 6, 2016
178 posts
86 upvotes
Calgary, AB
The balance owing is likely being carried forward from another year.
Sr. Member
Sep 2, 2009
995 posts
702 upvotes
Ottawa
timmytard wrote: My girl is from Thailand, she came here & took out a student loan, went to school.
She had someone do her taxes & she owes for 4 straight years.
Roughly $400 per year.
I think someone else needs to do her taxes because theoretically all of the tuition amounts -as others have noted- should be used up as soon as they can (and CRA will apply them if you don't... learned this the "unfortunate" way years ago when I was "saving" them up for higher salary years).

You could see if she is comfortable letting you review the tax return in full and see if everything from the T4 was properly put into the tax software - assuming tax software was used. If it was done on paper, definitely more areas that were inputted incorrectly. If her only income was 5k from doing a part-time job while in school, there should be nothing owed? However, it could be that her employer didn't deduct CPP and EI or any number of things... but even that would be maybe ~$150 on 5k?!

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