Paying Students' tuition - Ask a cross-border
QUESTION: Mr. Ingram: In an ideal world, my employer would like to offer up to $2,000.00 for up to 24 of his employees annually, in order for them too upgrade from already employed care aides to LPN status. He'd like to do this as a benefit to his dedicated employee's and to assist the efforts to quench our provincial shortage of healthcare professionals. Is there any financial recovery available to him or his Inc. company, if he were to offer this? Perhaps as a sholarship or such? I appreciate your feedback. Kind regards, M --------------------------------------------------------------------------- david ingram replies: You have an interesting email handle. Your employer can offer the training. It is a deduction to him and a taxable benefit to the employees. They, in turn, can deduct the cost of the tuition on their tax return as a tax credit on Schedule 11 of the Canadian return. Please note that there is also a deduction credit for the number of months that the students are in part or full time attendance. Answers to this and other similar questions can be obtained free on Air every Sunday morning. Every Sunday at 9:00 AM on 600AM in Vancouver, Fred Snyder of Dundee Wealth Management and I, David Ingram host a LIVE talk show called "ITS YOUR MONEY" Those outside of the Lower Mainland will be able to listen on the internet at www.600AM.com <http://www.600am.com/> Local calls are taken at (604) 280-0600 and Long Distance calls are taken at 1( 866) 778-0600 Callers to the show are invited to attend free seminars on financial planning with such specialities as deductible mortgage interest. 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