With tax season starting during many universities’ reading weeks on Feb. 19, the Canadian Revenue Agency (CRA) has put together tips for students.
Tax season sits during a busy time of year for many students, often falling well into their second semester. Daria Askerko, spokesperson for the CRA, says that filing them early so people are not scrambling to find documents.
When it comes to keeping track of those documents, Askerko says their are four that students typically have: a T4 for employment income; a RSP for investments; a T4 RSP for registered education savings; and a T2202 for tuition and enrolment fees.
Schools like Toronto Metropolitan University hold tax clinics for students which will help guide students through the process with exceptions.
Taxes are due April 30 for Canadians who are not self-employed. For those who are, the deadline is June 15 which lands on a Saturday making them due on June 17 instead.
