It says salary, tuition & vacation. So I wouldn't be surprised if that's a $160k estimation for the whole thing for the 4 years!
But yeah, either way, better than $60k/y in tuition you end up owing!
Tuition in Canada is around $10k-20k/year depending on school and status.
Sounds a bit high. From a brief search (computer science bsc tuition, CAD, domestic (non-quebec) student): $6500 UBC, $11000 (McGill), $12500 (UofT), $15500 (Waterloo)
$10k tuition at York U, for the CS degree mentioned in the link.
40000 Canadian per year is correct. You are given vacation days and are expected to work like a salaried employee. Plus they cover the tuition which is approximately 10 thousand a year after fees.
Source: Lassonde student (where the dev degree program exists)