Student Taxation 101 – Class in Session!
With the return for many to post-secondary studies in September, this month’s Kurve provides a refresher of tax matters as they apply to students.
As a student, you are subject to the same rules pertaining to income, tax deductions, and tax credits as a regular taxpayer. However, there are some specific types of income, tax deductions, and tax credits applicable to students that you should be aware of.
Common Types of Income
You are taxable on most income you receive, including employment income from full or part-time jobs, tips, occasional earnings, and investment income. Examples of common types of income for students is provided below: