A new school year has begun!! Who is more excited? … the children or parents? Well, now the childhood educators can be excited too!
The Government of Canada has introduced a new Eligible Educator School Supply Tax Credit starting for the 2016 Income Tax year.
This new credit will apply to educators who hold a teachers certificate or have a childhood education certificate or diploma in the applicable province. With employer certification, these eligible educators may claim a 15% refundable tax credit for purchases of up to $1000 in school supplies for the children.
For more details on this new credit, the eligible supplies, and tax filing requirements, click here to CRA web site.