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As an international student in Canada, filing income taxes can be a daunting task. But with a little guidance and preparation, it doesn’t have to be. This guide provides an overview of what you need to know to file your Canadian taxes correctly and on time.
If you earn money from employment in Canada, then you must file taxes with the Canada Revenue Agency (CRA). Additionally, if your income exceeds certain thresholds, you must file taxes with the CRA. However, if you don’t meet these criteria, you don’t have to pay taxes in Canada. Keep in mind that even if you’re exempt, filing a return can potentially result in refunds on tuition fees and education credits.
Filing taxes may seem intimidating, but there are resources available to help. Depending on your situation, various forms and assistance may be available. Online software programs such as TurboTax and UFile provide step-by-step instructions, and many universities offer free tax clinics where students can receive one-on-one help.
Tax returns are due by April 30th annually. Failing to file on time and owing taxes may result in a penalty and interest on any unpaid amounts. However, if you don’t owe taxes, you can file up to three years late. After filing, ensure that your mailing address is correct, as the CRA will send important correspondence 4-6 weeks later.
Filing Canadian income taxes as an international student can be simplified by knowing your obligations and how to complete them. With guidance from this guide, along with resources like software programs and university-sponsored tax clinics, filing your Canadian income taxes should become a less daunting task.
Admission Hub is one of the largest International Student Immigration Firm based in Toronto & Vancouver. Currently, it operates in the following markets: Japan, Taiwan, Hong Kong, China, Brazil, Mexico, Turkey, Europe, Vietnam, and India.
Our parent company CVH Immigration Ltd. Admission Hub is helping and supporting International Students around the world to Study, Work, and Immigrate to Canada. We are proud to partner with over +150 Canadian Institutions.
If you want help with your Study Visa application, the first step is to BOOK A CONSULTATION with Admission Hub’s Consultant, share your background and our consultant will reach out to provide you with as much assistance as possible.
We understand the challenges and needs of international students, and we can communicate with you in your preferred language. We can guide you through every step of the process, from choosing the right college, applying for admission, obtaining a study permit, extending or changing your visa status, to settling in Canada.