Check this out : http://www.cra-arc.gc.ca/E/pub/tg/rc192/rc192-07e.pdf We can use TL11D (http://www.cra-arc.gc.ca/E/pbg/tf/tl11d/tl11d-07e.pdf) to claim the tuition fee for CFA exams.
This is good news.
nice i was going to look into this, so thanks for the link
hmmm it does not seem like it may apply to the CFAI it says that the student has to be in full-time attendance at a “university outside Canada”; … T11D is for deemed residents … You’re a deemed resident of Canada for tax purposes if you: stay in Canada for 183 days or more (the 183-day rule) in the tax year; don’t have residential ties with Canada; and aren’t considered a resident of another country under the terms of a tax treaty between Canada and that country.
what about the form for “commuters” http://www.cra-arc.gc.ca/E/pbg/tf/tl11c/tl11c-07e.pdf I know, CFA students don’t commute, but as commuting means living in canada and studying elsewhere ? either way, CFAI needs to sign the forms so perhaps someone who knows the tax law should email CFAI and get their take ? t11a seems to be out as that specifies :university"
Is the CFAI a university outside of canada? no. search this general forum for a post a couple weeks ago dealing with this. You can’t claim CFA fees on yhour tax return. In the other thread someone was audited and they didn’t allow him to retain his CFA claim. I looked though stuff as well and you can’t technically claim the CFA fee.
strikershank Wrote: > search this general forum for a post a couple > weeks ago dealing with this. if you follow the links if this thread, you’ll see that there have been changes for 2007…
I put mine through a few weeks back and recieved my rebate today. No audit thus far…
strikershank Wrote: ------------------------------------------------------- > Is the CFAI a university outside of canada? no. > > Technically, you could say the CFA represents a masters degree in asset management from Virginia University.
CFA_Halifax, Did you use the form in this thread or something else? I’m going to do my taxes in couple of weeks so I would be interested in how you did it.
No, I put in the educational portion. I did this last year as well. If they give me shiza I’ll play dumb and pay them or whatever. It’s not tax evasion, it’s CCRA not being clear and me not agreeing with their philosaphy. There are many folks out there doing worse things.
Can’t you just call CRA and ask them if it qualifies? I think I might just do that today.
I got the reply from CFAI: Thank you for contacting us. Because we are not a recognized educational institution, the CFA Institute does not qualify or provide such documentation. However, we can provide you with a letter stating your results from a previous exam or confirmation of registration for an upcoming exam, if that would assist with your need. Please contact us with any further questions. Regards, Client Services
I thought tax deducation was an oxy moron in Canada
CFA_Halifax, I’ll try that too and report with the results. See you in jail.
CFA_Halifax Wrote: ------------------------------------------------------- > No, I put in the educational portion. I did this > last year as well. If they give me shiza I’ll play > dumb and pay them or whatever. It’s not tax > evasion, it’s CCRA not being clear and me not > agreeing with their philosaphy. There are many > folks out there doing worse things. CFA_Halifax: is that educational portion S11? And see you guys in jail too.
cfafrank Wrote: ------------------------------------------------------- > CFA_Halifax Wrote: > -------------------------------------------------- > ----- > > No, I put in the educational portion. I did > this > > last year as well. If they give me shiza I’ll > play > > dumb and pay them or whatever. It’s not tax > > evasion, it’s CCRA not being clear and me not > > agreeing with their philosaphy. There are many > > folks out there doing worse things. > > CFA_Halifax: is that educational portion S11? And > see you guys in jail too. I think the G of C has far more people to look into then little ol me, with 40k in income last year. I call top bunk!
I would like to serve my time in Florida with Conrad. I’m sure I would be able to learn a lot from him.