How to File Tax Return for International Students in Canada

As an international student studying in Canada, you may have to file a Canadian income tax return. You must determine your tax residency status to know how you will be taxed in Canada. To file a tax return, you must have either a Social Insurance Number or an Individual Tax Number, which you can obtain from the CRA and If you earned employment income in Canada, you may be taxed. Free Credit Score in under 3 minutes: imp.i203032.net/Ry32Kv
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0:00 Do You Have to Pay Income Tax in Canada?
1:36 How to File Taxes in Canada?
3:12 How to Find Tax Residency Status?
6:59 How to Find SIN or ITN?
7:48 Tax Documents You Need
10:35 How to File Taxes Online?
11:36 Benefits of Tax Filing
14:04 Getting Help with Taxes
International students required to file a tax return in Canada can do so in a few ways. If you’re comfortable filing taxes yourself, you can file online using a tax return software program like TurboTax or Wealthsimple Tax. You can also file your return using an approved tax preparation service provider or discounter. The tax preparer will fill out your return and send it to the CRA electronically
A T4 slip is a document that summarizes all the money paid by an employer to an employee during a calendar year. It is used to report an employee’s income, deductions and other information required by law. You should receive most of your slips (including your T4, T4A, and T5 slips) and receipts by the end of February
There are several ways you can maximize your tax refund as a student in Canada. Some of these include tracking deductions, making RRSP contributions, claiming student loan interest, making charitable donations, and claiming moving expenses if you moved for school or work
The training limit for most Canadians who are eligible for this credit is now $750 for 2022 which is up from its previous limit of $500 in 2021
Disclaimer: This channel is for education purposes only and opinions expressed in this video are based on personal research and should be treated as such. These are not instructions, suggestions, nor directions as to how to handle your money. The data presented in this video are up-to-date based on the recording. These may have changed based on when you watch the video, please, always do your own due diligence! The description of this video includes Affiliate links (I get paid at no cost to you for trying out a particular service.) #taxfiling #studentsincanada #canadataxes

[@DanishGhaziCPA]

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[@ghadayoussef3121]

Thank you so much this is very clear! I want to ask you about the T4 form if I had freelance projects outside Canada. We don't have these forms back home so how do international students usually report their out-of-Canada income?

[@DanishGhaziCPA]

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[@teyshanmendoza3113]

Very detailed ❤

[@DanishGhaziCPA]

Thank you! 😊

[@dazz7673]

How much is the average tax refund for international students that is usable, not the tax credits. also, is the ontario trillium and climate action benefit paid only once?

[@DanishGhaziCPA]

If you're still looking for help, feel free to reach out over here: asqme.com/@DanishGhaziCPA

[@yimmigutierrez83]

Hello - Can you confirm if we can include moving expenses like travel expenses, meals, and others for our first year as IS?

[@DanishGhaziCPA]

Great question, feel free to reach out on the matter here: asqme.com/@DanishGhaziCPA

[@Sandeep-pv1kg]

For international students, how do they claim tax credits for hostel residential fee paid to university?

[@DanishGhaziCPA]

International students studying in Canada can claim tax credits related to their tuition fees. Here’s how you can do it: Obtain the Necessary Forms: You’ll need the form detailing your tuition fees. This form could be one of the following: T2202: Issued by your Canadian educational institution. TL11A: For tuition and enrolment at a university outside Canada. TL11C: For tuition and commuter expenses to the United States. TL11D: For tuition fees at educational institutions outside Canada (for deemed residents of Canada).

[@shahabjaved609]

Hi, I want information regarding T2022. I can get tax refund on it or just tax credits for future use. As I am on an open work permit doing part-time jobs. Thanks

[@DanishGhaziCPA]

The **T2202** form, also known as the **Tuition, Education, and Textbook Amounts Certificate**, is essential for students in Canada. Let's break down how it works: 1. **Tax Credits vs. Refunds**: - The T2202 form allows you to claim **tax credits** rather than direct refunds. - These tax credits can be used to **reduce your income tax payable** in the future. 2. **Eligibility**: - As an **international student** on an open work permit with part-time jobs, you're eligible to claim these credits. - Keep in mind that the T2202 form specifically relates to **tuition fees** paid to a recognized educational institution. 3. **How It Works**: - When you file your **Canadian tax return**, you'll include the T2202 form. - The tuition fee amount will be transferred to **line 32300** on your federal tax return. - This reduces the **tax you owe** for the current year. 4. **Non-Refundable Tax Credit**: - Remember that the tuition tax credit is **non-refundable**. - If your tax liability is already zero (meaning you don't owe any income tax), you won't receive a direct refund. - However, the unused credits can be carried forward to future years. 5. **Claiming the Credits**: - Obtain the T2202 form from your educational institution. - Complete your tax return and submit it to the **Canada Revenue Agency (CRA)**. - The CRA will calculate your taxes owed and apply the credits accordingly.

[@shahabjaved609]

Thanks for your reply, Also can I transfer these credits to my family member here in Canada. Will they get any benefit from it?@@DanishGhaziCPA

[@rashmis9123]

can i transfer tuition credits to my spuse?

[@DanishGhaziCPA]

If you're still looking for help, feel free to reach out over here: asqme.com/@DanishGhaziCPA