The Graduate Retention Program (GRP) is a tax credit that will help reduce the provincial income tax owed by the graduate. Starting the year you graduate, you are entitled to tax credits over a seven-year period based on your eligible tuition amount, if you file an income tax return as a Saskatchewan resident each year. If your credit is greater than the tax payable, the excess can be applied in a future tax year and graduates will have up to ten years from graduation to fully utilize their tuition rebate entitlements.
Individuals may claim tuition fees paid as indicated on their T2202A tax slip issued by the educational institution. The T2202A includes tuition as well as some other fees. Student union fees, health and dental fees, and books do not qualify under Canada Revenue Agency regulations for inclusion on the T2202A and cannot be included in costs eligible under the GRP.
The tax credit can only be applied to the income tax of the graduate and is non-transferable to other family members.
If you are filing electronically, keep all your documents in case you are asked to provide them for audit purposes. If you file a paper return, attach Form RC360 and your Graduate Retention Program Eligibility Certificate to your Saskatchewan Income Tax Return.