It’s Tax Time
Posted on: Apr 1, 2015
Many students don't bother filing a tax return because they figure they don't earn enough to pay any tax. Bad move. By filing a tax return you will create registered retirement savings plan (RRSP) contribution room. When you graduate, you can then make contributions to an RRSP and save tax. Further, filing a tax return could entitle you to a GST credit once you have reached age 19. To learn more about filing an income tax return visit the Canada Revenue Agency website and watch the "Canadian Students and Income Tax" video series.