But even if your income is low, filing a tax return can unlock real money. It allows you to qualify for government payments like the GST/HST credit (now referred to as the Canada Groceries and Essentials Benefit) and the Ontario Trillium Benefit. It also ensures your tuition credits are properly recorded for future years and plays an important role when applying for financial aid.
The deadline to file your 2025 tax return is April 30, 2026. With exams ending late this year, it’s worth planning ahead instead of leaving it to the last minute.
Andrew Russell (BCom Accounting ’23, Chartered Professional Accountancy (CPA) Graduate Diploma program ’24) taught a tax course in the diploma program in fall 2025. He says filing can pay off far more than students expect.
“If taxes are boring or scary, think of it this way,” Russell says. “If you spend two hours filing your tax return and qualify for the Canada Groceries and Essentials Benefit and the Ontario Trillium Benefit, you could get about $1,000 back. Even if it takes longer, that’s still a great time investment.”
“If you spend two hours filing your tax return and qualify for the Canada Groceries and Essentials Benefit and the Ontario Trillium Benefit, you could get about $1,000 back.”
Andrew Russell
— BCom Accounting ’23, Chartered Professional Accountancy Graduate Diploma program ’24
Here’s what students should know before filing.
Filing for the first time
Russell recommends setting up a CRA My Account, where much of your tax information is available digitally. You register for My Account online but you’ll need to wait about 10 days to receive a security code by mail to set up your account.
Students filing for the first time can use certified tax software like Wealthsimple Tax, TurboTax, UFile or H&R Block, which guide users step by step.
Students who want help can also attend free tax clinics through the CRA’s Community Volunteer Income Tax Program. International students can attend International Students Services Organization free tax clinics.
Start with your tax slips
The first step is gathering the documents that report your income and tuition.
If you worked during the year, your employer will issue a T4 slip, which shows how much you earned and how much tax was deducted. You might also receive a T4A slip for scholarships, bursaries, grants or other financial assistance. These slips can be downloaded through the Income Tax Forms tool in uoZone.
Another key document is the T2202 Tuition and Enrolment Certificate, also available in uoZone. This form shows how much eligible tuition you paid during the year and allows you to claim tuition tax credits.
If you used funds from a Registered Education Savings Plan (RESP), that amount may also appear on a T4A slip issued by the financial institution managing the RESP.
“All the challenging parts are handled for you,” Russell says. “You’re mostly just copying and pasting the amounts.”
How tuition credits work
Tuition credits can significantly reduce the amount of tax you owe.
“You’ll generally receive a tax credit of about 14.5 per cent of your eligible tuition,” Russell says. “So if you paid $10,000 in tuition, your taxes could be reduced by about $1,450—unless you don’t have enough income to use it yet.”
If you can’t use the credit right away, the unused amount automatically carries forward to future years. You can also transfer up to $5,000 of unused tuition credits each year to a parent or guardian.
A deduction many students miss
While tax credits reduce the tax you owe, deductions reduce the income that gets taxed.
One commonly missed deduction is interest paid on government student loans. You can claim the interest paid on qualifying government student loans. Only the interest counts here—not the original loan amount.
Filing can get you hundreds of dollars
Even students who earned little or no income still have a strong reason to file.
Submitting a return allows the Canada Revenue Agency (CRA) to assess your eligibility for benefits that help offset living costs.
“Most students are likely to qualify,” Russell says. “You don’t even have to apply—the CRA automatically checks your eligibility when you file.”
For example, the Ontario Trillium Benefit can be worth a few hundred dollars for students. If you pay rent, including if you live in residence, you may qualify for a larger amount.
Students living on the Gatineau side may also qualify for programs like Quebec’s Solidarity Tax Credit.
Why taxes matter for financial aid
Filing taxes also affects student financial aid.
Lyne Jrade, supervisor of financial aid at uOttawa, says tax information is required when assessing financial aid applications.
“Students who receive government financial aid understand the importance of filing their taxes because reporting previous year gross income, verified by tax agencies, is a mandatory part of the application,” she says.
Because financial aid is based on your overall financial situation, filing every year helps ensure the information used is accurate. Jrade adds that the Financial Aid Office regularly encourages students—and in some cases, their parents—to stay up to date with their tax filings.
Don’t skip filing your return
Ultimately, the biggest mistake students can make is not filing at all.
“If you owe money, penalties and interest can apply,” Russell says. “But most students who file actually end up receiving a refund.”
Filing your taxes may take a few hours, but it can pay off in benefits. If you’re balancing classes, work and rising costs, it’s one of the simplest ways to improve your finances.
Please note: The University of Ottawa does not provide income tax advice, nor can it assist with tax preparation or interpretation. Instead, it refers students to third-party resources. The University of Ottawa does not officially endorse any tax filing software mentioned in this article.