If you’re a student, there are tax credits and deductions for you whether or not you’re working or you received a scholarship, grant or bursary. Read on to learn more.
Generally speaking, you'll be eligible for the solidarity tax credit if you've got a low income. You most also:
Yes. However, to get the maximum amount of each component of the solidarity tax credit, you also need file Schedule D and sign up for direct deposit. If you’re eligible for the credit but don’t file Schedule D, you’ll only get the basic amount of the QST component.
Yes. Even if you had no income, it’s best to file a tax return. That way you can claim, carry forward or transfer tax credits such as:
Yes. You must have paid at least $100 in tuition or examination fees for 2021. To claim the tax credit for tuition or examination fees, carry it forward or transfer it to someone else, complete Schedule T of your income tax return.
Eligible expenses include:
Yes. However, since scholarships are non-taxable in Québec, you can claim a deduction for scholarships, bursaries and similar financial assistance on line 295 of your tax return.
Student loan payments aren’t deductible, but you can deduct interest paid on a student loan or carry it forward by completing Schedule M when you do your taxes.