Does International student have to file tax in Canada?

It is necessary for every Canadian resident, either citizen or non-citizen, to understand how tax return works in Canada. As international students, lots of expenses such as rental expenses and tuition fees notably increase your living costs in Canada, but the good news is, those expenses can be claimed when filing tax returns as your tax credit or refund. People think that it is complicated and time-consuming when doing taxes, but if you understand how it works, you will find it is not as troublesome as you estimated, reversely, you will benefit from it.

1. How much refund can international students get?

One of the best reasons to file tax is to get the refund or tax credit. For people who have less income, including students, it means a lot to get a chance to receive some extra money. However, if you don’t report to Canada Revenue Agency, you will not receive those money automatically.

2. When to do tax?

Usually it starts from mid February every year. The deadline for regular students to file tax is April 30th. We do recommend that you start your tax return as early as possible so you can get your refund on time.

3. Is it complicated?

At TAXONIC, it is simple. All you need to do is to get your supporting documents ready and we will take care of the rest for you. Now let’s look at the checklist for most common cases for international students.

• Social Insurance Number (SIN): you must have a Social Insurance Number in order to file your tax. SIN is not only used to file tax but also a must when applying for off-campus jobs or insurance related benefits. If you don’t have a SIN, you can apply at Service Canada or contact us for help.
• Direct Deposit Form: if you prefer to get your refund direct deposited into your bank account, you must provide your Direct Deposit information to CRA. You can get the information or the form from your bank, or you can download it from your online bank. If you don’t have or do not want to provide Direct Deposit information, you will get your tax refund from CRA by cheque.
• Tuition receipt: you can get your tuition receipt from you school website. If you have scholarship or student loan, please download them as well. Those documents can be claimed for tax credits, too.
• Rent receipt: rent receipt is also one of the most important documents. On the receipt there will be information of the landlord, address, rent etc. You need to keep your records just in case you are selected by CRA for tax review purposes.
• Others: if you have a part time job, you need to provide a T4. Property purchases, medical expenses and other documents can also be claimed when needed.

4. About us

Taxonic is a professional accounting firm that offers tax preparation and bookkeeping services. We’re committed to providing our clients the best experience based on their financial needs. We strive to get to know and understand our clients to build a long-term relationship. Our goal is to ensure that every client is satisfied with our professional service and efficient solutions.

Why us:

• Efficient: Saving your time and minimizing your work are our top priorities.
• Reasonable Price: We provide high quality services and solutions that worth every penny.
• Convenient Location: Located in downtown area with free parking, minutes to public transit.
• Extended Business Hour: Regular hours on weekdays or anytime by appointment.
• Multiple Payment Methods: We accept WeChat Pay, Alipay, PayPal, Email Transfer, Debit and cash.
• Eco-Friendly: We strive to go paperless and use recycled materials and products. We encourage online tax return to make your life easier.

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