2021 Tax Guide for Students

The Canada Revenue Agency (CRA) publishes a guide for post-secondary students which outlines the tax treatment of the types of income and expenses (like scholarship income and tuition expenses) which are commonly received and incurred by students. The Guide — the P105 — also reviews credits and expense deductions (like the HST tax credit and the moving expense deduction) which, while not specific to students, are often claimed by those attending post-secondary education.

The CRA recently issued an updated version of the P105 guide, which outlines the relevant tax rules for the 2021 tax year. That updated guide can be found on the CRA website at P105 Students and Income Tax 2021 – Canada.ca.

Student Carrying Books