USC hosting student income tax clinic in UCC

Tuesday, April 7th, 2009

To prepare for income tax filing, due April 30, the University Students’ Council is running a clinic this week in the University Community Centre.

The clinic is intended to help students put together their income tax forms. Volunteers will have details on filing taxes, common deductions for students and new tax savings announced by the federal government earlier this month.

The clinic is run by USC income tax commissioner Elizabeth Kular, her committee and about 140 volunteers. Two tax representatives from Deloitte, a professional services firm, will also be present Thursday and Friday when the clinic is busiest.

Alison Todd, VP-finance and clubs, said students should bring T4 forms from employment, T4A forms for scholarships, awards and bursaries, the T2202A form for tuition from the Registrar’s website, rent receipts, textbook receipts and any statements of investment to the clinic.

Students should keep in mind additional savings introduced by the government this year. Students can now claim textbooks " $65 per month for full-time students and $20 per month for part-time students.

Students also no longer have to claim bursaries, awards and scholarships.

“In previous years, you had to claim scholarship or bursary claim amounts of $500 or more, but now that is not included in income,” said Mark Hasak, a Deloitte representative.

Another recent saving of interest to students is monthly or annual public-transit passes bought after June 30, 2006.

Interest paid on student loans and moving expenses may also be claimed.

More information on these claims can be found at www.cra-arc.gc.ca/tax/individuals/segments/students/.

All clinic volunteers underwent training last Saturday, conducted by two officials from the Canadian Revenue Agency who gave overviews of the process and concepts.

“To learn how to do tax filing, you actually have to practise it, so we gave volunteers two exercises,” Kular said. “One was a profile of a student so the volunteers know what to encounter.”

The income tax clinic runs all week, 10 a.m. to 4 p.m. in the UCC.

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