Tax season is here! The deadline to file your taxes this year is April 30, 2024. We’ve created a handy guide to help post-secondary students like you find the important information you need when filing your taxes with helpful links from the Canada Revenue Agency.

You’ll find a few highlights from our Tax Season Guide for Students in this blog post. Check out the full detailed guide here.

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General Information for Students

‍Whether full time or part time students, domestic or international students, students in post secondary education should file a tax return. There are some instances where individuals don’t have to file a return but it is recommended that you file even if you have no income or tax to pay. However, as a student you should file in order to carry forward your tuition tax credits to a year where you have taxable income to claim in a future year.

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If you are a mature student, you are considered the same as regular students when filing your tax return.

International students may have to file a Canadian income tax return. By filing your income tax return, you could be eligible for certain benefit and credit payments to help with your cost of living. Your residency status determines how you will be taxed in Canada.

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File your taxes for FREE with UFile!

Did you know that the Canadian Federation of Students offers students FREE tax filing with UFile all year round?

Simply enter code CFS1981 in the “special offer” section BEFORE completing your tax return on UFile! Head over to ufile.ca/free-for-students-cfs for more detailed instructions on how to use the code to file your taxes for free.

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Tax Credits for Students

Non-refundable tax credits reduce your federal tax up to the amount of owing. You can only use these tax credits to reduce your tax payable to zero and cannot get a refund for these tax credits. Common federal non-refundable tax credits for students include: Canada employment, tuition, education and textbook amounts, interest paid on your student loans, child care expenses and moving expenses.

‍Refundable tax credits reduce your tax owing and any remaining credit is refunded to you or applied to another balance owing. Common refundable tax credits for students may include: canada training credit, child and family benefits, other provincial or territorial tax credits.

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The deadline for filing your tax return for the 2023 tax year is April 30, 2024.

For more detailed information visit our tax guide here!

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