Full-time students may claim a federal credit of 15 per cent
of their eligible tuition fees, plus an education credit of 15
per cent of $400 per month, or $60 in 2012. The equivalent
Ontario provincial credit is indexed; students may claim a
monthly credit of up to 5.05 per cent of $506, or $26 (the
indexed amount is determined annually and can be found
on the Ontario TD1 form).
Tax Tips for Students in Ontario | Book Pros