arrow13 Comments
  1. Financial Uproar
    Apr 06 - 12:46 am

    People never pay attention to the fine print when it comes to election promises. The leader makes the announcement, gets the headlines, and then doesn’t bother to change anything anyway.

    Can you tell I’m a little cynical about politics?

  2. The Blunt Bean Counter
    Apr 06 - 7:07 am

    CC, I hope we are missing something in the translation, because this is absolutely ridiculous. Firstly, just to clarify, for a student to lose $837, that would require 12 months full time attendance which is atypical. Most students are 8 months full attendance and thus $558 would be the typical cost of losing the credits, still severe. However, in Ontario and I think the other provinces, there is a provincial component to the credit. For arguments sake, let’s say Ontario goes along with the Feds and cancels the full-time and textbook credit; a 12 month student would actually be out of pocket $128 dollars. Anyways, I am just playing with numbers; the key is if the Liberals are truly concerned with the cost of education, why would they even consider reducing the typical student’s credit by at minimum $558? They cannot even argue the credit is not required in most cases due to a student’s low income, since the credit carries forward if not used by the parent or the student, to be used when the student obtains full time employment. A truly contradictory amendment decision if the policy is as it appears.

  3. Michael James
    Apr 06 - 8:59 am

    I wonder how this policy would affect me. I’m putting 3 people through school right now and all are 18+ meaning that their RESP days are over. Will I just lose the textbook and education credits times 3?

  4. Traciatim
    Apr 06 - 9:48 am

    @Michael James:

    The Liberals had stated on their web page that they are working out what they will be doing for existing students during the transition period and the time when full payouts will be funded by the plan (since it’s $1000 a year for high school students now, it will be 4 years before it’s fully funded… sound familiar?. I’ve been told on another web page (A Liberal shill page essentially) that they had also announced in a conference later that the funds would be available to existing students, but I don’t quite get how that will be funded.

    • Canadian Capitalist
      Apr 06 - 11:16 am

      @Financial Uproar: I share your cynicism when it comes to politics. All of these guys are tripping over each other trying to bribe us with out own money. And they are being (IMO) sneaky about it. I’ll give you $1,000 but take away $500. They are hoping voters won’t notice the fine print.

      @The BBC: I agree that 8 month full-time for undergraduate is more realistic. Like you say, we are still talking $558 worth of tax credits that can be transferred or carried forward. Details are lacking but you can read whatever is available in the platform here:

      http://www.liberal.ca/platform/families-finances-future/canadian-learning-strategy/

      Here’s the exact fine print:

      “The Learning Passport will simplify the existing scheme of tax credits by ending and rolling in the modest Textbook and Education tax credits (except for graduate students). The Tuition Tax Credit will remain in place, as would the Canada Student Loans Program and the associated Canada Student Grant Program.”

      @Michael James: As Traciatim points out, details are sketchy at this point. The platform document makes no mention on how the Passport amounts will be paid to existing students.

  5. Phil S
    Apr 06 - 11:33 am

    Thanks for the mention CC! Too bad I don’t have my own blogspot to advertise. But it wouldn’t draw much traffic because it would mainly be filled with my libertarian diatribe during election season… :)

  6. Thicken My Wallet
    Apr 06 - 4:19 pm

    Education falls within provincial responsibility. The feds have no power to control tuition directly. As much as all these tax credits and deductions hurt my head, it is the only way to have an education friendly election platform without encroaching on provincial jurisdiction.

    The entire fine print on all election promises is that federal parties are promising to do things which are either exclusively provincial jurisdiction (mainly health care and education) or shared jurisdiction and, as such, are subject to negotiations (such is the state of affairs in a weak federal system). Any promises to do with health care, education, training (since the Feds have given some of those powers to certain provinces- read Quebec) cannot be concrete. It is not an excuse for these crazy promises but it is an unspoken truth.

    …Which leads back to Phil S’s point- the only thing the Feds truly control which the average taxpayer cares about is the federal taxes. Why not just cut that? Then the promise is not conditional on negotiations with the provinces. But I guess that would require someone doing what they say they will do… can’t have that in politics can we? It will make everyone else look bad!

  7. [...] Canadian Learning Passport: Check the fine print @ Canadian Capitalist [...]

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  9. Natalie Joan
    Apr 08 - 10:16 am

    Interesting points. It is not a perfect system. But personally, I think the $1000 up front would have been way more useful to me than than the tax credit was. It was my parents who benefited from the tax credit, not me – despite the fact that I was paying my way through a student loan.
    Tax credits only help those who are able to pay up front, and who are making an income and filing taxes – not true for all students.

    • Canadian Capitalist
      Apr 08 - 3:32 pm

      @Natalie: Students do have the option of carrying forward unused tuition, education and text book amounts to a future year. They are not obliged to transfer the credits to a parent.

  10. Open source portfolio
    Apr 08 - 1:35 pm

    It would be much better to just make higher education free for all. I don’t understand why it costs us $40,000 to get a degree

  11. [...] Canadian Learning Passport: Check the fine print @ Canadian Capitalist [...]

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