The tax season is upon us, and I know that with the exams around the corner it’s going to be hard to decide which to focus on first. My advice? Get the tax filing out of the way first!
Before we start, I’m only sharing my own experience when I filed my taxes. I’m based in Toronto, Canada so my experience could be entirely different from yours and what you need to do. I’m also a student and not a tax professional, so please reach out to a professional should you have any questions or concerns before filing those papers. See my Disclosure Policy here.
I believe the deadline for 2021 is April 30th in Canada.
Depending on your circumstances, the number of T4’s you will receive/need to gather will fluctuate. I had 2-3 last year, and close to 5 or so this year.
If you work and receive a paycheck, you will receive a T4 from your employer. If you are currently not working but have been working before (within a year I think), you should receive a T4 from your former employer.
You should also receive 1 or 2 from your school with the amount you paid for tuition, it usually is called the T2202 tax slip. My school releases the slips online by the first week of March in our Student Home/Student Centre online for students to print.
If you received financial awards such as Bursaries and Scholarships, I know you’re supposed to get a T4A slip for that. I’ve not received Bursaries or Scholarships before so I don’t know much about it.
Students who applied and received OSAP should receive 1 or 2 slips (usually printed online from NSLSC) that show the amount given/granted to them.
I think this only applies recently, but if you applied for CESB (Canada Emergency Student Benefit) you should receive one slip in the mail with the amount that was given. I received mine early this month.
I’ll leave the part of where and how to file up to you because everyone would likely have their own choices on what to do. I know this is short, but I hope it helps!
