Students and taxes: what you need to know
When you’re a student, every dollar counts. So make sure you’re getting all the tax credits, deductions, and benefits you are eligible for by doing your taxes. Even if you have little or no income, you should still file your tax return because you could get money back!
Here are some tips to help you:
Remember to collect all T4s from all jobs, and be sure to report them on your tax return. Your employer should send you a T4 by the end of February, but you can also view your T4 slips in your CRA My Account.
- Even if you are missing slips or receipts, you can still file your tax return on time by attaching your paystubs and a note stating the payer's name and address, the type of income involved, and what you are doing to get the slip to your paper return. For more information, visit our Tax Slips webpage.
- If you earn income from the sharing economy, for example through Uber or Airbnb, you must also report this income and meet your goods and services tax / harmonized sales tax (GST/HST) reporting and remittance requirements.
2. Deductions and credits
Know what you are eligible for in advance. You may be eligible for benefits or credits such as the Canada child benefit, the GST/HST credit and provincial or territorial benefits. You need to do your taxes every year to continue getting any benefit payments without delay or interruption. The CRA uses information from your tax return to calculate the amount of benefits and credits to which you are entitled. Additionally, as a student, there are many expenses you may be able to claim, including your:
3. Need help doing your taxes?
The Community Volunteer Income Tax Program may be able to help you do your taxes if you have a modest income and a simple tax situation. There are even some tax clinics located at schools and universities. For more information, go to canada.ca/taxes-volunteer.
4. Online Services
Check out CRA’s online services to make doing your taxes easier and help you get your refund faster. File your tax return, make a payment, track your refund, receive your notice of assessment, and more. You can also sign up for direct deposit to get your refund deposited into your bank account. For more information, go to canada.ca/taxes-get-ready.
5. Keep your address up-to-date
Remember to keep your address up-to-date if you move for work or school. You can change your address easily using the CRA’s online service My Account or the web-based mobile apps MyCRA or MyBenefits CRA.
6. Protect yourself from fraud!
Don’t become a victim of fraud or tax scams. When it comes to taxes, the CRA has established procedures in place to make sure your personal information is protected by phone or email. The CRA will never:
- Request prepaid credit cards or gift cards.
- Ask for your information about your passport, health card, or driver’s license.
- Leave personal information on your answering machine or voicemail or ask you to leave a message with your personal information.
- Ask you to provide personal information by email.
- Send or request e-transfers of any kind.
If you have doubts about someone claiming that you owe the CRA money, you can call us or check online using My Account.
7. Go paperless
Sign up for online mail and get your notice of assessment directly in My Account.
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