The credit available for a taxation year will equal the lesser of half of the eligible tuition and fees paid in respect of the taxation year and the individual’s notional account balance accumulated in respect of previous years.

In order to accumulate the $250 amount in respect of a year, an individual must: file a tax return; be at least 25 years old and up to 64 years old at the end of the year; be resident in Canada throughout the year; have earnings (primarily income from employment or self-employment, but also including parental employment insurance benefits and tax-exempt earnings of status Indians and emergency service volunteers) of $10,000 or more in the year; and have net income that does not exceed the third tax bracket ($150,473 in 2020).Individuals will be able to accumulate up to a maximum amount of $5,000 over a lifetime. Any unused balance will expire at the end of the year in which an individual turns 65.

How much you can accumulate Beginning in 2019, you may be able to accumulate $250 in each year that you are eligible, for use in calculating your CTC for a future year, up to a maximum of $5,000. You will stop accumulating the CTC limit when: Your total accumulation is $5000You turn 65 years old