TaxTips.ca - New Brunswick personal tax credits

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Atlantic Provinces -> New Brunswick -> Personal tax credits

Non-refundable personal tax credits

For information on the amounts of most non- refundable tax credits available to New Brunswick residents, see the non-refundable personal tax credits tables.

NB Low income tax reduction

	for low income individuals and families
	amount received depends on family net income
	cannot exceed NB tax payable (not refundable)

For current and past threshold amounts for the low income tax reduction, see the New Brunswick Department of Finance Personal Income Tax page.

See Canada Revenue Agency (CRA) form NB428 from the New Brunswick General Income Tax and Benefit Package page for detailed calculation.

NB Tuition tax cash back credit (tuition rebate)

The New Brunswick tuition tax cash back credit will be available to taxpayers who:

	have incurred full or part-time tuition costs at eligible post-secondary institutions in 2005 or later years, and
	file a New Brunswick personal income tax return, and
	have New Brunswick income tax payable

Eligible institutions are those for which the federal/provincial tuition tax credit is available, which includes Canadian and some foreign post-secondary institutions.

The tuition tax rebate:

	is for 50% of eligible tuition costs incurred from January 1, 2005
	is a maximum of $2,000 per year ($4,000 in 2009 as per the NB 2009 Budget)
	cannot exceed NB income tax payable each year
	has a lifetime maximum of $10,000
	must be claimed within 20 years, starting with and including the year you first begin to claim credits
	may not be transferred to anyone else
	does not affect the current tuition and education amount tax credits
	can be claimed for the first time when tax returns are filed for the 2006 tax year
	can be claimed even if the student did not graduate from the post-secondary program

For more information, see the Tuition Rebate web page on the Government of New Brunswick website.

The Tuition Tax Cash Back Credit Act received royal assent on June 22, 2006.

Revised: December 12, 2011

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