Taxes in Canada - York International

The tax year is based on the calendar year, or January 1 to December 31st. Income tax forms must be submitted by April 30 of the following year. For example, you must complete you tax form for the 2024 tax year (January 1, 2024, to December 31, 2024) by April 30, 2025.

Important Note:

Some due dates may be different. If you are self-employed, you will need to file your tax shelter investment by April 30, 2025. Other documents must be filed by June 15, 2025. If you are filing a return for a deceased person, the due date may be different as well.
Income taxes are based on each individual's specific circumstances. That is, the amount someone pays in taxes may differ from the amount another person pays due to their differences in income, residency, and other factors.
CRA offers an interactive module on their website with all the necessary information to complete your tax return on this website: https://www.canada.ca/en/revenue-agency/services/tax/individuals/educational-programs.html

Due Date Exceptions and Deadlines:

More information on due date exceptions can be found here: https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/important-dates-individuals/filing-dates-tax-return.html

Students in Canada

If you were a student in Canada in 2024, the P105 Students and Income Tax 2024 pamphlet offers resources and information for students that cover topics such as income, deductions, and credits available to students.
Website: https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/p105.html

International Students

If you are an international student in Canada, specific information tailored towards your circumstances, such as residency status, tax obligations, and other forms are required to supplement your tax income submission.
Website: https://www.canada.ca/en/revenue-agency/services/tax/international-non-residents/individuals-leaving-entering-canada-non-residents/international-students-studying-canada.html

Why is it important to file your taxes?

Taxes are mandatory payments to the Canadian government. They support programs and services like public facilities, hospitals, fire services, libraries, etc. Individuals in Canada file an income tax and benefit return every year to find out whether they are entitled to a refund or if they have a balance owing to the government.

Definition

Completing an income tax form and sending it to the government is referred to as “filing a tax return”. You must file a tax return if you:

Earned income from employment;
Received a scholarship, bursary, or fellowship while in Canada.

Eligibility for Refunds

You are often eligible for a return if you had any of the following income or expenses during the tax year:

Income from assistantship, such as Teaching Assistant (TA) or Research Assistant (RA) roles
Rent expenses for off-campus housing
Salary or hourly pay
Scholarships and/or bursaries
Tuition
Public transit pass (e.g., Toronto Transit Commission, GO Transit, VIVA)

Benefits

By doing you taxes every year, you may be able to:

Receive benefit payments
Carry forward or transfer unused tuition credits
Earn RRSP contribution room

In contrast, you may miss on certain benefits and credits if you don’t file a tax return.

Learn How to Do Your Taxes

Methods to File Your Taxes

Some available filing options include:

Authorized representative
Community volunteer tax clinic
Discounters (tax preparers)
Paper tax return (self or by someone else)
Online tax return through a tax preparation software

Documents to Prepare

You will need to prepare the following documents to complete your tax return successfully. Note that not all the documents below may be applicable to you, and depending on your status in Canada (i.e. international or domestic student), some additional documents may be required:

Basic information: Full name, address, marital status
A Social Insurance Number (SIN) for individuals with active employment or a work permit
An Individual Tax Number (ITN) for individuals who do NOT have a SIN (if you did not earn income in Canada)
Tax information slips (e.g., T4, T4A, T2202)
Medical/dental receipts for payments made by you
Rent receipts or a letter from your landlord stating the amount of rent paid in 2024
Donation receipts if you made any donations in 2024
CRA notice of assessment from the previous year (if you have filed returns in the previous year)

Tax information slips

There are many types of information slip. They are tax documents that provide details about your income and related deductions for a particular tax year. The issuer of your slip is often:

Your financial institution
Your school
Your employer

Common information slips are:

Information Slip Name	Description
T4 slip: Statement of Remuneration Paid	This shows the employment income earned as an employee. It can also show payroll deductions.
T4A slip: Statement of Pension, Retirement, Annuity, and Other Income	This shows different types of income. They may be scholarships, fellowship, bursary income, or payments from a registered education savings plan (RESP).
T2202: Tuition and Enrolment Certificate	This shows eligible tuition and fees that you can claim on your tax return.

Completing your tax return using a tax preparation software:

You also have the option to file your tax return online using a tax preparation software. Choose from a list of tax preparation software provided on the Canadian Revenue Agency website.

Tax filing support in toronto

Here are some services to support you in the completion of your tax return submission. Note that some of them are only available based on an eligibility criterion, and they differ from the mode of delivery (walk-in, in-person, or virtual) of their services.

Free virtual tax clinics offered by the CRA
Free Tax-Filing Clinic offered by the North York Community House
Income Tax Clinics offered by the University Settlement
Tax Clinics offered by York International

York University Tax Support Offerings and Resources

York directory of tax-related resources

If you were a York university employee, you can access your T4 slips on HR Self Serve.
To access more information on tax information slips or download your T2202A and T4A tax forms from York, visit https://students.yorku.ca/sfs/tax-forms-and-filing.

York International’s Tax Support Offerings for International Students

If you are an international student looking for resources and guidance on how to file your taxes during your studies in Canada, join us in this series of events to help you navigate the tax filing process with ease. York International offers the following services:

Tax information sessions with representatives from the Canada Revenue Agency (CRA)
Free virtual tax filing appointments on March 19th, 24th, and 25th from 10AM-4PM

Find more information and register at: https://yorkinternational.yorku.ca/event/york-internationals-tax-support-offerings-for-international-students/?instance_id=22330

Frequently Asked Questions (FAQ):

Question	Answer
What is a residency status?	International students studying in Canada can be either a resident. Non-resident, deemed resident, or deemed non-resident. Your residency status is based on the residential ties you have in Canada. To assess your residency status, visit https://www.canada.ca/en/revenue-agency/services/tax/international-non-residents/individuals-leaving-entering-canada-non-residents/international-students-studying-canada.html
What happens if I miss the deadline to file my taxes?	When you miss the April 30 deadline, you can still submit a late income tax return with interests or penalties. You may miss out on certain benefits and credits. If the CRA identifies you as a non-filer, they may contact you through mail, a call, or send a representative to visit you.
What are deductions and credits?	Deductions are amounts you can use to reduce from your total income, which makes your taxable income lower. In turn, you are charged taxes on a reduced amount of income. Credits are amounts that reduce the tax you pay according to your taxable income.
What are the tax benefits for residents?	The GST/HST credit is used to support individuals with low or modest incomes when purchasing goods and services. You can apply for the GST/HST credit when you file your income tax return each year. The Ontario Trillium Benefit is used to support individuals with low or modest incomes, who reside in Ontario, and help offset Ontario sales tax on goods.