Things you didn’t know you can claim on your taxes

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Get the most out of your tax return! You’re eligible to claim more than you think… Use that juicy return to pay off your credit card, pay back student loans, and/or start a savings account (I know these are all buzz-kill things to do with your newfound wealth but you’ll thank me later). Get more out of your return with these claims.

Tuition Credits

Your tuition credits reduces the amount of tax payable. Your studies must be post-secondary in nature in order to be eligible. For example, if you’re upgrading and take high school equivalency courses, those are not eligible to claim on your taxes. Don’t worry. You won’t have to do to the heavy lifting to see what is and isn’t eligible. The T2202A form that Mount Royal issues (find it on your MyMRU) has all the info you need to file your taxes and apply the tuition credits.

Transit passes

Save your transit passes! Bring your old passes when you file your taxes because you’re eligible to receive a 15% credit towards your taxes (your U-Pass counts!).

Medical expenses

If you paid out-of-pocket for any medical expenses, you can claim them on your taxes! Things like prescriptions, dental services, ambulance rides, and much more. You can see a full list of covered items (and whether a prescription is required) here. Didn’t hold on to your receipts? Start collecting them now to claim next year.

Travel medical expenses

Did you go on a trip and end up needing hospital services? You can claim that! If you had to travel over 40 km to access medical services, you can claim transportation costs. Over 80 km, and you can claim meals and accommodations too.

Cell phone and/or internet bills

If you work from home, or use your cell phone and computer for your work, you may be eligible to claim a portion of your cell phone and internet bills on your taxes! You’ll likely need your employer to fill out a T2200 form in order to claim employment expenses (such as supplies for a home office).

Moving expenses

If you moved to attend a post-secondary institution (like Mount Royal) and are studying full-time, you may be eligible to deduct moving expenses on your tax claim. Exciting stuff right?

 

SAMRU is offering a free tax clinic to eligible students March 5th to 29th, 2018. For a full list of eligibility criteria and to sign up, visit samru.ca/taxclinic.

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