Canadian Tax Return
May 4th 2015, 11:34 pm
#1
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Joined: Apr 2008
Location: Calgary
Posts: 3,340
Canadian Tax Return
It looks like high school students don't need to make a tax return, assuming earnings from part time jobs etc aren't high enough that tax is due?
What is the situation regarding tax and refunds for students at university? Are tuition fees tax exempt if paid by parents?
What is the situation regarding tax and refunds for students at university? Are tuition fees tax exempt if paid by parents?
May 5th 2015, 12:19 am
#2
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Joined: Feb 2013
Location: BC, Canada
Posts: 3,874
Re: Canadian Tax Return
it's a good idea for the student to file even if they have not made enough money ..............
it gets them into the system, and makes it much easier after they go to university for them to share tuition credits with the parent(s) if possible.
it gets them into the system, and makes it much easier after they go to university for them to share tuition credits with the parent(s) if possible.
May 5th 2015, 12:37 am
#3
Joined: Sep 2008
Posts: 12,830
Re: Canadian Tax Return
If they earn under the threshold and/or are under 18, they don't need to pay tax or CPP. They do have to pay EI.
Filing a tax return can help build RRSP room, which can be used later.
Tuition fees
http://www.taxtips.ca/resp/respwithdrawals.htm
Filing a tax return can help build RRSP room, which can be used later.
Tuition fees
http://www.taxtips.ca/resp/respwithdrawals.htm
