Textbook Tax Credit
Post-secondary students will benefit from a new non-refundable tax credit for textbooks that will take effect for the 2006 taxation year. The amount on which the credit is based will be calculated as:
- $65 for each month the student qualifies for the full-time education amount; and
- $20 for each month the student qualifies for the part-time education amount.
Proof that textbooks have actually been purchased is not required.
Unused amounts may be transferred or carried forward in the same way as unused tuition and education amounts.
Click here to return to the 2006 Federal Budget Tax Changes index.
