As part of their efforts to retain graduates who studied in the educational institutions in Saskatchewan, the province is offering income tax credits of up to $20,000 for tuition fees paid by graduates who continue to stay in Saskatchewan. This offer is a part of the Graduate Retention Program of the province of Saskatchewan.
Graduate Retention Program of Saskatchewan
The Graduate Retention Program of Saskatchewan provides a rebate of up to $20000 for the graduates living in the province. But in order to be eligible, one must live and file income tax returns in Saskatchewan. The rate of rebate is based on the amount of tuition fee paid by the student. The rates are specified on the T2202A tax receipts issued by the institutions. The maximum rebate rates students can have vary depending on the study program they have pursued.
Program Maximum Rebate
1 year Certificate, Diploma, or Journeyperson $3,000
2 or 3 year Certificate or Diploma $6,400
3 year Undergraduate Degree $15,000
4 year Undergraduate Degree $20,000
How to obtain income tax credits under Graduate Retention Program of Saskatchewan
The Ministry of Advanced Education issues a Graduate Retention Program Certificate to eligible graduates and they can submit this certificate while filing the income tax in order to avail tax credits. But the student must apply for the Graduate Retention Program (GRP) within seven years of graduation. Most of the post-secondary schools in Saskatchewan apply for GRP on behalf of the students. If not, the students themselves can apply with a copy of their degree or diploma certificate.
Eligibility Criteria for Graduate Retention Program of Saskatchewan
In order to be eligible for tax credits under the Graduate Retention Program of Saskatchewan, the graduates must be living in Saskatchewan or moving to the province. Those who have graduated in 2010 or earlier are not eligible to apply for the Graduate Retention Program. Another condition is that the study program must be equivalent to a minimum of six months of full-time study at an eligible institution. The program must result in a certificate, diploma or undergraduate degree or provide a journeyperson certification.
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