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6 Things Students Don’t Know They Can Claim on Their Taxes

Written by Chris D’Alessandro

Simple things most students have no clue they can claim on their taxes to get more money back.

Be honest. When it comes time to do your taxes, you do one of two things.

You rush through some online system, frantically filling in lines from your T4. Or you hand the whole thing off to your parents.

While it’s tempting to get through your taxes quickly, you might be missing out on getting some serious cash back.

Most students don’t know that they can easily claim some pretty standards items to increase their tax return.

To make it extra easy, we’ve also included exactly where on your tax return form you can claim your expense and apply for a credit.

1. Your Tuition.

Where to look on your tax form: Line 32300

Do you pay to go to school in Canada? Great! You’re eligible for this.

You can claim any amount of tuition you paid over $100.

So, unless you’re trying to write off the Deadmau5 Masterclass you took this summer when you thought you were going to be a DJ for 5 minutes, you should be fine.

Your school will provide you with a slip that has your total eligible tuition fees paid as well as the months you were enrolled either part-time or full-time.

Learn more about claiming this credit here.

2. Your Textbooks.

Where to look on your tax form: Line 32300

At least the $120 textbook you bought for that criminology elective you took in first year might be good for something.

That is, if you held onto your receipts.

Meaning if you bought textbooks any year before last year, and you haven’t claimed them, now is the time.

Learn more about claiming this credit here.

3. Your Student Loan Interest.

Where to look on your tax form: Line 319

If you paid interest on your loan in 2019 or the preceding five years, you can claim it.

However, it has to be interest on a loan which falls under one of these categories:

The Canada Student Loans Act;

The Canada Student Financial Assistance Act;

The Apprentice Loans Act; or similar provincial or territorial government laws.

There are some particular restrictions on this one, so be sure to check your eligibility here.

4. Your Moving Expenses.

Where to look on your tax form: Line 219

Did you move away from when you went to school?

Is your student housing at least 40 kilometres closer to your school than it is to parents house?

If you answered yes and yes, then you’re eligible to claim your moving expenses on your taxes.

You can claim things like:

→ Transportation and storage costs (uHaul trucks and alike).

→ Travel expenses (including vehicle expenses and meals).

→ The cost of cancelling a lease.

→ The cost of replacing or renewing any legal documents (like your driver’s license).

→ Disconnecting utilities (like hydro)

→ And more!

Learn more about claiming this credit here.

5. Your Public Transit Costs.

Where to look on your tax form: Line 364

Turns out selling your 1990 VW Jetta when you moved away to school was actually a good call.

Because you can totally claim your bus pass on your taxes.

Actually, you can claim the cost of any of the following monthly public transit passes:

→ Local buses

→ Streetcar

→ Subway

→ Commuter trains

→ Commuter buses

→ Local ferries

Learn more about claiming this credit here.

6. Climate Action Incentive.

Where to look on your tax form: Line 447

If on December 31, 2019, you were a resident of Saskatchewan, Manitoba, Ontario, or New Brunswick and are 18-years or older, then you might be eligible to claim the CAI payment. However, it’s important to keep in mind that only one person per family/household can claim this. So, if you’re living on your own (or with a partner), do your research beforehand to make sure that this applies to you!

Still need help?

H&R Block can help you claim the maximum amount of tax credits, get the most money back, and file with ease.

*Opinions expressed are those of the author, and not necessarily those of Student Life Network or their partners.