Annual Income Tax
Who should complete Canadian Income Tax?
Anyone who has lived/studied in Canada in the previous year. If you arrived January, you do not need to complete an Income Tax Form that year.
When do you need to complete your Canadian Income Tax?
Income Tax forms are due each year by April 30th. However, there is no penalty for applying late. You may submit your taxes anytime after April 30th.
What documents do you need to complete your Canadian Income Tax?
- T4 (only if you worked): If you worked in the previous year, you will receive a document in the mail called a T4. This is a record of how much you earned and what taxes were deducted. If you worked and you have not received a T4 by the end of March, contact your employer (they may not have your correct mailing address.)
- Tuition Statement (T2202): All students should have this document. You must download it from the Financial Tab of your E-Services account.
- Notice of Assessment: If you completed your income tax last year you will have received a Notice of Assessment in the mail. Keep this in your files as you will need it to complete the next year's taxes.
How can you get help completing your Canadian Income Tax?
The International Student Advisors organize a free tax clinic every year to help students fill out their taxes. Contact them to find out where and when the tax clinic will be.
Canada Revenue Agency also organizes free tax clinics around the city. Click HERE to find out about these tax clinics.
You can also get professional help. Several low cost options are available to you:
H&R Block: Cost: $34.95 + Tax (per income tax year)
Dawnalen Systems Inc. $35 + Tax (per income tax year)
Why should you complete Canadian Income Tax?
All student who complete their income tax receive some money back from the Canadian Government. Even if you have not worked, you are eligible to receive a GST Rebate. To continue to receive this GST Rebate each year, you must complete your income tax every year. If you have worked, and paid income tax, you may also get a portion of this tax back.
If you have children under 18, the Government of Canada may be able to help you with some of the costs of raising them. This monthly tax-free payment is called the Canada Child Tax Benefit. The amount of the benefit is based on several factors, such as your family income, the number of children you have and their ages, and your province or territory of residence. When you apply, you must provide proof of your Canadian immigration status and proof of birth for any of your children born outside of Canada. To receive the Canada Child Tax Benefit, you must file an Income Tax Return each year.
Also, if you plan to stay in Canada and work full-time after you graduate you will need to complete your income tax each year. If you did not complete income tax as a student, you will have to go back and complete each year you have missed. This could be very costly!
