Students accounting services
We offer tax filing for Canadian and international students. You can come to the office year-round.
Students Accounting Frequently Asked Questions (FAQ)
What tuition fees can be claimed?
Tuition fees over $100 can be claimed as a tax credit. You can claim tuition fees for post-secondary courses at a college or university or, if you are 16 and over, for courses you take at other approved institutions to improve your occupational skills.
What documents do I need to file my taxes?
You will need your Social Insurance Number (or Individual Tax Number), tuition receipts, T4 forms (if you are working), a T5 from your bank to show interest earned, any monthly bus pass receipts, receipts for moving expenses, medical care receipts, and any documents concerning scholarships and bursaries.RL-31 from your landlord (Quebec residents only).
I’m an international student; do I need to file a tax return?
If you earn any income (employment, scholarships, bursaries, interest income), then you are responsible for submitting a tax form to the government. If you have no income, you are not required to complete a tax return, but you may want to if you are eligible for certain refunds or credits e.g. GST/QST Credit, Real-Estate Credit (Rental refund)
When are personal tax returns due to the government?
Income taxes are calculated for a calendar year and the deadline is April 30th of the following year. It is advised that you have your taxes done well in advance of this date. If you are late filing, you should still file your taxes, but know that if you owe any tax then there may be interest associated with your account.
Can I file taxes for previous years that I was in Canada?
Yes, you can file taxes for previous years as long as you have copies of information slips and documents from previous years.
If I do not need to use my tuition credit this year, why should I still file a tax return and claim it?
Tuition fees and education amounts that are not needed to reduce your tax payable to zero need not be wasted. You can carry forward the unused portion and apply it against income in future years, or you can transfer the unused portion to a parent, grandparent, or a spouse’s parent or grandparent.
What is the GST/HST credit?
The GST credit is a tax-free quarterly payment that helps individuals and families with low and modest incomes offset all or part of the GST or HST that they pay. To be eligible, you must be a resident of Canada and 19 or older. You can apply for the GST/HST credit when you file your taxes.
Do I get money back from my tuition?
The tuition credit is a non-refundable credit meaning that you do not get any money back from it, but it lowers your tax liability should you owe any money to the government. Example: Say you have $5,000 of tuition for the year
The credit would be:
Federal credit: $5,000 x 15% = 750
Quebec credit: $5,000 x 8% = 400
Total credit 1,150
Say you had tax to pay of $1,500 for the year. The $1,750 credit would completely offset this amount and also give $250 in unused tax credit that could be carried forward.
With these percentages, if you are a student paying international tuition up to a total of $100,000 you could be eligible for significant tuition credits that can be carried over into future filing years.
Do I have to declare money given to me by my parents?
No. This is not considered income for tax purposes.
Do I need to report scholarships and bursaries on my tax return?
Yes. These are considered income for tax purposes and will need to be reported. These are generally not taxable but reporting is required for tax purposes.