PPL graduate TAX related questions..need advice..

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xtyle86
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PPL graduate TAX related questions..need advice..

#1 Post by xtyle86 » Tue Sep 05, 2017 1:23 am

Hello,

I've been browsing the website for a long time but this is my first time posting.

I got my PPL earlier this year (Jan), have enrolled in CPL program, and have been flying about once a month.
I understand you can claim tax for your ppl if you are intended on doing your cpl.

I'd love to get my CPL license but because of my work, it will take just as long as it took me to get my PPL (~ 2 years).
I can only fly about twice a month, max.

Am I still able to claim tax deduction on my ppl and cpl training?
I will neither be a full or part time student.

I want to get my cpl but I'm financially unable to finish it any earlier.

I'm really struggling to make a decision on this issue..

Could anyone help or provide an insight on the situation?

Thank you in advance!
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mmartin1872
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Re: PPL graduate TAX related questions..need advice..

#2 Post by mmartin1872 » Tue Sep 05, 2017 5:23 pm

Yes you can.. just ask your school for a t2200. I've done it, been audited and been found good. And it was for taking my training same way you are.

Mike
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mbav8r
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Re: PPL graduate TAX related questions..need advice..

#3 Post by mbav8r » Tue Sep 05, 2017 6:49 pm

Do not take tax advice from an Internet forum, I have no idea why a previous poster would direct you to a form for employment expenses.
I believe you're wondering if you get a tuition credit for CPL training, I know I was able to but the current federal government has removed the tuition credit from 2017 tax year and forward, that does not mean provincial doesn't, could be. I would consult a tax accountant!
I found this,
TL11B Tuition, Education, and Textbook Amounts - Certificate - Flying School or Club
https://www.canada.ca/content/dam/cra-a ... 1b-15e.pdf
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co-joe
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Re: PPL graduate TAX related questions..need advice..

#4 Post by co-joe » Tue Sep 05, 2017 8:24 pm

He probably meant the T2202A form.
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mbav8r
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Re: PPL graduate TAX related questions..need advice..

#5 Post by mbav8r » Wed Sep 06, 2017 6:26 am

Yes, probably, I wish people would at least fact check before posting, how hard is it to make sure your providing correct information, took me 5secs to figure out t2200 was not correct, another 10 seconds to search for the correct one.
I looked at t2202a and that's the form that my kids received from their university already filled out, the one I posted is specific to flying clubs and probably more appropriate for this situation.
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mmartin1872
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Re: PPL graduate TAX related questions..need advice..

#6 Post by mmartin1872 » Wed Sep 06, 2017 12:02 pm

Yes.. I meant t2202a.. simple mistake..
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SuperchargedRS
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Re: PPL graduate TAX related questions..need advice..

#7 Post by SuperchargedRS » Wed Sep 06, 2017 1:13 pm

:goodman:
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HansDietrich
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Re: PPL graduate TAX related questions..need advice..

#8 Post by HansDietrich » Wed Sep 06, 2017 3:27 pm

I did but this was a long time ago. Before I did though, I consulted everything with my accountant that did my taxes!
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