Have you filed your tax return yet? The deadline to file your taxes this year is April 30, 2023. Filing taxes can be a daunting task but luckily, we’ve created a handy guide tohelp post-secondary students like you find the important information you need when filing your taxes with helpful links from the Canada Revenue Agency.
In this blog post, you’ll find a few highlights from our Tax Filing Guide for Students. Check out the full detailed guide below.
General Information for Students
If you are a full time or part time, domestic or international student attending a post-secondary institution, you should file a tax return. There are instances where students may not have to file a return if they have no income or tax to pay in order to carry forward tuition tax credits to a year where you have taxable income to claim in a future year. Mature students are still considered students when filing their tax returns.
International students will need a Social Insurance Number(SIN) to file a tax return. If you don’t have a SIN, contact Service Canada orvisit this page to apply for one.
File your taxes for FREE with UFile!
Did you know that the Canadian Federation of Students offers students free tax filing with UFile all year round?
Simply enter code CFS1981once you’re done completing your tax return on UFile! Head over to ufilefree.ca for more detailed instructions on how to use the code to file your taxes for free.
Tax Credits for Students
Non-refundable tax credits reduce your federal tax up to the amount of owing. You can only use these tax credits to reduce your tax payable to zero and cannot get a refund for these tax credits. Common federal non-refundable tax credits for students include: Canada employment, tuition, education and textbook amounts, interest paid on your student loans, child care expenses and moving expenses.
Refundable tax credits reduce your tax owing and any remaining credit is refunded to you or applied to another balance owing. Common refundable tax credits for students may include: Canada training credit, child and family benefits, other provincial or territorial tax credits.
The deadline for filing your tax return for the 2022 tax year is April 30, 2023.
For more detailed information visit our tax guide here!