Tuition Tax Credit
The Institute of Corporate Directors (ICD) is very pleased to
announce that it has recently been certified as a private educational
institution by Human Resources and Social Development Canada for the
purpose of entitling the ICD to provide tuition tax receipts to
participants enrolled in our formal education courses as set out in
Sections 118.5 and 118.6 of the Income Tax Act.
Tuition fees paid by individual tax filers for the Director's
Education Program, Governance Essentials Program for Directors of
Not-For-Profit Organizations, Boardroom
Financial Essentials course, Human
Resources and Compensation Committee Effectiveness, Enterprise
Risk Oversight for Directors, Audit
Committee Effectiveness and Crown
Director Effectiveness are now eligible for the tuition tax credit.
Please note that the tuition tax credit does not apply to ICD Endorsed
The tax credit will apply retroactively to courses taken in 2008, and
to all courses taken moving forward. The ICD will be issuing tax
receipts (Form T2202A) in early March to all participants who paid
tuition fees for programs that took place in the 2008 calendar year.
Those receiving the tax credit should refer to the Canada Revenue
Agency Web site at www.cra-arc.gc.ca for information on how to utilize
this tax credit when completing your tax return.