1. Am I required to file an income tax return?
If you earn income in Canada, you are responsible for submitting a tax form to the government and paying the requisite amount. Many international students may be required to complete an income tax form or want to do this in order to claim refunds of other taxes.
If you have no income to report or were not asked by CRA to file a tax return, you are not required to complete tax forms, but you may be still eligible for certain payments or credits.
2. I am an international student. Why should I file taxes?
The Canadian tax system is based on residency and not citizenship. As an international student, Canada Immigration does not consider you to be a resident of Canada. However, your residency status for tax purposes may be quite different. For income tax purposes, international students studying in Canada are considered to be one of the following types of residents:
• Resident (includes students who reside in Canada only part of the year)
• Non-resident
• Deemed resident
• Deemed non-resident
Residency status is based on the residential ties you have with Canada.
3. What are the deadlines for taxes?
• RRSP contribution – 60 days after the end of the year
• Personal tax returns – April 30
• Self-employed personal tax returns – June 15
• Tax owing for all taxpayers – April 30
4. Can I deduct my vehicle expenses related to traveling to and from my normal place of work?
No, CRA considers travel to and from your normal place of work as a personal expense and therefore not deductible for tax purposes.
5. I lose money on my rental property because I rent it to relative at a lower rate. Can I claim the rental loss?
No, if you are losing money on your rental property because you are renting it at a lower rate to a relative than you would to other tenants, then you cannot claim the loss.
If the rental income consistently does not cover expenses, then a reasonable expectation of profit does not exist and rental losses are deemed non-deductible.
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If you earn income in Canada, you are responsible for submitting a tax form to the government and paying the requisite amount. Many international students may be required to complete an income tax form or want to do this in order to claim refunds of other taxes.
If you have no income to report or were not asked by CRA to file a tax return, you are not required to complete tax forms, but you may be still eligible for certain payments or credits.
2. I am an international student. Why should I file taxes?
The Canadian tax system is based on residency and not citizenship. As an international student, Canada Immigration does not consider you to be a resident of Canada. However, your residency status for tax purposes may be quite different. For income tax purposes, international students studying in Canada are considered to be one of the following types of residents:
• Resident (includes students who reside in Canada only part of the year)
• Non-resident
• Deemed resident
• Deemed non-resident
Residency status is based on the residential ties you have with Canada.
3. What are the deadlines for taxes?
• RRSP contribution – 60 days after the end of the year
• Personal tax returns – April 30
• Self-employed personal tax returns – June 15
• Tax owing for all taxpayers – April 30
4. Can I deduct my vehicle expenses related to traveling to and from my normal place of work?
No, CRA considers travel to and from your normal place of work as a personal expense and therefore not deductible for tax purposes.
5. I lose money on my rental property because I rent it to relative at a lower rate. Can I claim the rental loss?
No, if you are losing money on your rental property because you are renting it at a lower rate to a relative than you would to other tenants, then you cannot claim the loss.
If the rental income consistently does not cover expenses, then a reasonable expectation of profit does not exist and rental losses are deemed non-deductible.
Please click submenu for other topics.
