8 things students need to know before tax time

Now that college and university classes are back in session, students are most likely focused on catching up with friends, with school work and the eventual final papers or exams. It is important, however, that they remember to gather receipts for tuition, text books, moving expenses etc. so that when next April comes along, they are not scrambling to claim all the eligible tax credits, deductions, and benefits. Students should file their income tax return even if they have little or no income, in order to access the credits and benefits.
The Canada Revenue Agency shares 8 important tips to help you be ready when it’s time to file your taxes. To read the full article, visit http://www.cra-arc.gc.ca/nwsrm/txtps/2016/tt160914-eng.html?rss.
Have a wonderful school year. See you next April!

This post has been prepared for general information purposes. It is not advice. The information presented may not fit your unique situation, please consult one of our trusted business advisors at RHN CPA for further clarification and interpretation of your circumstances.