I find it surprising to find myself in agreement with the C.D. Howe Institute on a position, but that is the case on tuition tax credits today. They argue that tuition tax credits should be refundable. "A non-refundable tax credit cannot reduce the amount of tax owed to less than zero, but a refundable tax credit can reduce tax payable below zero and provide a refund." The reasoning is that most beneiciaries of the existing people are higher income taxpayers. "Only 10 percent of tax filers have an income above $80,000, but they account for about 42 percent of total tuition and education credits transferred to parents." Hedre's the full report.
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