Students: take advantage of tax credits and benefits

Tax savings for Barrhaven Students

Here is some useful tax advice for Barrhaven students.

Post-secondary education is expensive. Every semester starts with paying tuition and buying textbooks. You may need a new laptop and school supplies – and don’t forget about all the coffee you’ll need to survive the all-nighters cramming for exams. These costs can pile up which may push you to sift through the couch cushions for all the coins you can find.

The solution?

Even though you may not have any income to report, you may be able to take advantage of some tax savings to put some money back in your pocket. Here are a few tips to help you out:

File your taxes

To take advantage of the tax credits and benefits available to you, such as the GST/HST credit, you have to file your taxes. Do it online – there’s a wide range of software, including some that’s free.

Sign up for direct deposit

When you combine online filing with direct deposit into your bank account, you can get your refund in as little as eight business days.

Claim your tax credits

• Tuition fees – Most tuition paid to a post-secondary institution in Canada can be claimed. You may also be able to transfer or carry-forward any unused credits.

• Education amount – You can claim $400 for each month you are enrolled in eligible full-time studies and $120 for each month you are enrolled in eligible part-time studies.

• Textbook amount – If you are eligible for the education amount, you can claim this too. You can claim $65 for each month you are enrolled in full-time studies, and $20 for each month you are enrolled in part time studies.

• Public transit amount – Generally speaking, you can claim the amount you spent on a monthly public transit pass, but not tickets or daily passes.

• GST/HST credit – You can get payment of up to $70 every three months to help you keep on top of your expenses.

You can find more information for students at