2020 Income Tax Guide for Students

CRA issues 2020 income tax guide for students

Post-secondary students in Canada are eligible for a range of tax credits and deductions, including a tuition tax credit, deductions for moving expenses, and a claim for qualifying student loan interest costs.

The Canada Revenue Agency (CRA) publishes a guide for post secondary students – P105, Students and Income Tax 2020, which summarizes the most common such credits and deductions. The CRA has recently updated and re-issued that guide for 2020, and the updated version can be found on the CRA website at https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/p105.html

Student Studying on Laptop

The above information is for informational purposes only.