OMG UPDATE: Question? Answer.

Updated on Tuesday, June 2

#7216

QUESTION: I'm an international student, just got employed.
I was wondering, if anyone has an experience with filling out TD1 forms... CRA does not answer their phone, so I'm basically helpless. I heard tuition costs lower the taxes, and I've been paying tuition for the last 4-5 years. So do they actually lower deductions, or do I get them later as tax returns? And I only have the basic deduction, which is just over 11K, do I still need to fill out the provincial tax form, and pay another 9K on top of it?
Is there any good resource I can use (other than CRA... because I can't contact them) on this?
Thanks

3 comments

  1. they lower the deductions for each paycheque but you would get back any tax deductions the next year when you file your taxes. if you want less taxes deducted from your pay then just check the box at the back that says "income less than total claim amount", meaning that u r making less than your tuition + the base amount (11 327 or 9863)

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    Replies
    1. I am making way more than that though. Also, if my entire tax ends up being 11 327, do I also have to pay provincial? I think on the TD1 form it said I only need to pay provincial tax (9K) if my tax deduction was more than 11 327, but wording was vague. I'm basically wondering if I'll have to pay 11K or over 20K in taxes
      And so, can I have my last 4-5 years of tuition lower the tax deduction I'd have to pay, or do I get them when I file for returns?

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  2. in filing ur tax return you put both ur income and tution credits available. Throughout the year your employer has been taking a portion from ur salary and giving taxes. If your total tax payable based on ur income, and using the tuition credits etc, is lower than the amount ur employer withheld, you will get a refund. If not, you will have to pay more tax...
    Cheapest way is to google info about canadian taxes (practical info) ... Cheapest way to file is get a commercial tax software.
    Best way but most expensive is going to personal tax accountants (H&R Block etc)

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