Common Deductions and Tax Credits for Students

The most common deductions that apply to students are moving expenses and child care expenses.
Moving Expenses
You can deduct moving expenses if you move to attend courses as a full-time student or if you moved to start a new job, including summer employment, or to start a business. Your new home must be at least 40 Read More

By |August 6th, 2013|SmallBiz Builder, Tax Tips|

Do You Have to File a Tax Return?

A tax return must be filed if:

You have to pay income taxes;
You have not repaid all amounts withdrawn from your RRSP under the Home Buyers Plan or the Life Long Learning Plan;
You have to pay CCP because your pensionable income exceeds $3,500;
You received working income tax benefit advance payments;

Other reasons to Read More

By |August 1st, 2013|Tax Tips|