Question regarding line item#45350 - Canada Training Credit
2021 assessment shows these numbers -
45350 Canada Training Credit - $209.50
63055 Ontario Jobs Training Tax Credit $209.50
And then down below, the assessment says that "your Canada training credit limit for next year is $40.00" This does not have a line item number assigned on the assessment letter.
Should this amount of $40 be the line item #45350 amount for this year's tax filing irrespective of how much was spent on training? Ufile auto-loaded $40 and I used the number for this year's line item#45350 but my confusion lies in the fact that CRA notes that one can still accumulate $250 in CTCL for the following tax year which would mean that each year CTCL can be provided for $250 no? Is Ufile considering each year's CTCL amount of $250 for line item#45350?
According to CRA - https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-training-credit/who-can-claim.html
Your Canada training credit limit (CTCL) for the year is shown on your latest notice of assessment or reassessment. Every year, if you file an income tax and benefit return, the CRA will review the criteria and increase your CTCL by $250 if you qualify, up to a maximum of $5,000 in a lifetime. Even in years where you make a claim for the CTC, you can still accumulate $250 in your CTCL for the following tax year.
