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Tax back for training

Posted: Mon Nov 05, 2007 9:07 am
by trancemania
Does anyone know what % can I get back for my training costs?

Im in Quebec so I dont know if the province makes a difference.

Thanks,

Posted: Mon Nov 05, 2007 10:25 pm
by THEICEMAN
It's tax free....& if you report an income of 15,000$+, I believe you get some extra tax break? The Quebec Gov. will recognize you as a full time student.

Just ask your school to give you an education tax report form for the year.
I believe that it's not too late to file for 2006?

Posted: Tue Nov 06, 2007 2:41 pm
by Krashman
I don't think you can get any tax deductions for private flight training unless its done in an 'accredited program' (government picks those... but most flight colleges are these days).

For comercial no problem but I have heard a rumor as to the amount that your able to write off.... people used to be able to write off an flying that was done 'towards' a comercial licence after you get your private... even if it does take another 350hrs.

Posted: Tue Nov 06, 2007 5:17 pm
by Spokes
I was able to deduct all my flight training. from LP-1 to CPL completion. I seem to remember needing another 30hrs to reach the 200 after my CPL flight test. I deducted this expense as well. I also deducted my Instructor rating some time after this.

tax refund

Posted: Wed Nov 14, 2007 10:51 am
by ILS
hi..
can someone tell me the procedure for getting the tax refund for the commercial/IR pilot license training course fee in canada..
thanks
ram