Michelle attended a Canadian university on a full-time basis for eight months during the current year. Her only income for the year was $4,500 of employment income earned during the summer. She paid tuition fees of $7,000 for the current year.
Determine the amount of tuition, education, and textbook credit available to Michelle.
What options are available with respect to the unused education credits? Income tax reference: ITA 118.5, 118.6, 118.61, 118.81, 118.9.