(NC)-It feels like you just finished writing your exams, and now after a holiday break that went by way too fast, you’re back in the full swing of things. Assignments are already piling up, your list of reading keeps getting longer, and midterms are just around the corner. Such is the life of a student. On the bright side, you’ve mastered the art of procrastination, your room has never looked cleaner, and you’re caught up on every episode of your favourite TV series.

 

There is one more thing that all students should add to their to-do list at this time of year, and it’s filing an income tax and benefit return. Yes, the dishes are piling up, and even doing the dishes sounds much better than filing taxes. But it’s a task that could turn out to be far more rewarding than a cupboard full of clean dishes-it could land you a refund.

 

Start by checking out the CRA’s web page on getting ready for the tax-filing season at www.cra.gc.ca/getready. Did you know that scholarships and bursaries may count as income? But even if you have no income to report, you should still file. There are several credits and benefits you may be able to claim, including:

 

• the education amount;

• the textbook amount;

• tuition fees;

• the public transit amount;

• moving expenses;

• the goods and services tax/harmonized sales tax credit; and

• for recent graduates, the interest paid on a student loan.

 

You have to file if you want to claim these credits-and the best news is: it can be done online for free.

Courtesy of Newscanada