Want some more money, claim your student loan interest.
You need to get the receipt for the interest get charged on your provincial loan and federal loan and you will be eligible to get tax credit for the charged interest. you can also carry forward your interest in the future years
CRA Note:
You cannot claim interest paid on any other kind of loan or on a student loan that has been combined with another kind of loan. If you renegotiated your student loan with a bank or financial institution or included it in an arrangement to consolidate your loans, the interest on the new loan does not qualify for this tax credit.
In addition, you cannot claim interest you paid because of a judgment obtained after you failed to repay a student loan.
Our trained experts will make sure that students get the maximum benefits and credit the deduction you deserve. You need to ensure that you claim your tuitions, textbook tax, loan interests and public transit passes...!!
. For more information visit CRA websites. https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-319-interest-paid-on-your-student-loans.html
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