This credit is available to anyone living in Nova Scotia who graduated from an eligible post-secondary program on or after January 1, 2006.
For those who graduated in 2006 or 2007, this credit could reduce Nova Scotia income taxes by $1,000.
For those graduating in 2008 and later, the province will increase the graduate tax credit from $1,000 to $2,000.
EligibilityTo be eligible, you must:
- Be a graduate of an eligible program from an approved institution on or after January 1, 2006; this includes eligible post-secondary programs outside Nova Scotia
- Be a resident of Nova Scotia and file a 2006 or later tax return
- You will need to claim this credit in the year of graduation.
Eligible ProgramsTo receive the Graduate Tax Credit, you must graduate from a program that is offered on a full-time basis (even if you took it part time) that is offered through an approved institution. Full time means 60 per cent of a full course load, or a minimum of 20 hours per week of study.
Approved InstitutionsGetting the Graduate Tax Credit is not restricted to those who graduated from Nova Scotia institutions. Nova Scotia offers the credit to graduates from any institution recognized by designated authorities under the Canada Student Financial Assistance Act, including universities, colleges, schools and institutes across Canada and some international locations.
If you want to check whether your institution is on the approved list, the latest version is posted on the Canada Student Loans Program website.
How to ApplyYou do not need to apply for a Graduate Tax Credit Certificate - just claim the credit on your 2007 or later tax return.
- You need to attach your diploma to your 2007 (or later) tax return (paper version). If you are filing electronically, keep all of your documents in case the Canada Revenue Agency asks to see them
- You can claim this credit only once, even if you graduate from more than one post-secondary eligible program
- Claim this credit in the year you graduate; any unused amount may be claimed in the following two years
How do I learn more?Please visit
Graduate Tax Credit website.