Ads keep this website free for you.
TaxTips.ca does not research or endorse any product or service appearing in ads on this site.  Before making a major financial decision you  should consult a qualified professional.

Saskatchewan Graduate Retention Program TaxTips.ca
Canadian Tax and
Financial Information
TaxTips.ca Home

What's New

Links & Resources

Site Map / Navigation

Need an accounting, tax or financial advisor? Look in our Directory.  Use above search box to easily find your topic!   Stay Connected with TaxTips.ca!

 

Home  -> Saskatchewan -> Graduate Retention Program

SK Graduate Retention Program (GRP)

Income Tax Act, 2000 s. 37.1

The SK 2015 Budget announced that the GRP will become a non-refundable tax credit.  Post-secondary graduates who stay in Saskatchewan will be able to receive the full amount of their tuition back - up to $20,000 through reduced provincial income tax.  They will now have up to 10 years, instead of 7 years, to use the tax reduction.

Effective January 1, 2008, this refundable income tax credit replaced the Graduate Tax Exemption.  The GRP provides a tuition rebate.

Eligible graduates include individuals who successfully complete an approved program at a Saskatchewan post-secondary institution.  Eligible programs must be at least 6 months in duration, and must:

bullet result in a certificate, diploma, or undergraduate degree, or
bullet provide certification to journeypersons

In an October 30, 2008 news release, it was announced that this program is being opened up to eligible post-secondary graduates within and beyond Canada.

The tuition rebate will be based on T2202A tuition receipts.  The maximum rebate for each program of studies is:

bullet up to $3,000 for graduates of certificate programs, including journeypersons
bullet up to $6,400 for graduates of diploma programs
bullet up to $15,000 for graduates of 3 year undergraduate degree programs, and
bullet up to $20,000 for graduates of 4 year undergraduate degree programs

To fully qualify, graduates must remain in Saskatchewan for seven years following graduation.  Additional tuition rebates may be earned by eligible graduates who opt to continue their post-secondary education in another certificate, diploma, or undergraduate program.  The maximum lifetime tuition rebate is $20,000 per person.

The tuition rebates will be paid out through the provincial income tax system.  10% of the entitlement will be paid out in each of the first 4 years after graduation, and 20% will be paid out in each of the following 3 years.

2006 and 2007 graduates who were eligible under the previous Graduate Tax Exemption will continue to benefit from that program for the 2007 tax year.  In addition, if 2006 and 2007 graduates meet eligibility criteria, they will benefit from the GRP.  The maximum tuition rebates for 2006 and 2007 graduates are:

bullet up to $3,000 for graduates of certificate programs, including journeypersons
bullet up to $3,200 for graduates of diploma programs, and
bullet up to $5,000 for graduates of undergraduate programs

For 2008 and 2009 graduates, the maximum tuition rebates are:

bullet up to $3,000 for graduates of certificate programs, including journeypersons
bullet up to $6,400 for graduates of diploma programs, and
bullet up to $10,000 for 2008 graduates of undergraduate programs, and up to $15,000 for 2009 graduates

Full benefits are available for 2010 and later graduates.

For more information see the Government of Saskatchewan Graduate Retention Program (GRP).

Revised: September 20, 2024

 

Copyright © 2002 Boat Harbour Investments Ltd. All Rights Reserved.  See Reproduction of information from TaxTips.ca

Facebook  | Twitter  |  See What’s New, stay connected with TaxTips.ca by RSS or Email
The information on this site is not intended to be a substitute for professional advice.  Each person's situation differs, and a professional advisor can assist you in using the information on this web site to your best advantage. 
Please see our legal disclaimer regarding the use of information on our site, and our Privacy Policy regarding information that may be collected from visitors to our site.