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 Programs.

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.