Take Advantage of the Canada Training Credit (CTC)

Learnedly’s subscription cost now qualifies for the Canada Training Credit, making education even more affordable for Canadian financial professionals.

Cost should never be a barrier to education. It’s one of the reasons we started Learnedly – to provide accessible and modern education to Canada’s financial services industry.

Now, thanks to the federal government, professional education has become even more affordable for most Canadians with the introduction of the Canada Training Credit (CTC). 

Starting in 2020, Canadians between the ages of 25 and 65 and earning between $10,000 and $150,000, will begin accumulating a $250 annual credit to cover 50% of the costs of training fees from colleges, universities and eligible institutions, like Learnedly. 

Earlier this year, Employment and Social Development Canada (ESDC) recognized Learnedly as a Certified Educational Institution, which means eligible subscribers can now take advantage of the Canada Training Credit, helping reduce the cost of education even further.

Example: 

Rasheed is 37 and a Canadian resident working in the financial services industry, earning less than $150,000 per year. As a Learnedly subscriber, in 2020 he'll pay $240 for his subscription ($20 x 12 month). When he files his 2020 tax return, he will receive $120 as a refundable tax credit. His subscription cost works out to be $120 for the year, or $10 a month, after the tax credit. 

What is the Canada Training Credit?

The Canada Training Credit is a refundable tax credit of $250 per year, to a lifetime maximum of $5,000 to cover 50% of the fees paid to take courses in 2020 and subsequent years. 

Who is eligible for the Canada Tax Credit? 

Canadian residents between the age of 25 and 65, with an income of at least $10,000, up to (approximately) $150,000.

 In early 2021, Learnedly will issue official receipts to all subscribers.

To learn more about the Canada Training Credit, click HERE to visit Canada Revenue Agency’s website.