Do students without an income have to file income tax (in Canada)?

Hello, dumb question, but here we go....

I was a full time student in 2007. I did not have a job for that time period. I do have tuition receipts and some other tax credits. I own property that I rent out, but what I charge them just covers my mortgage, taxes, and condo fees. It is not your typical %26quot;revenue property%26quot;.

Do I have to file income tax, and can I claim my %26quot;benefits%26quot; and tuition without an income? Will I get money back? Or do they carry these credits until I am working? This is the first time I have not had a job, so I honestly am not sure.

Thanks!

Do students without an income have to file income tax (in Canada)?

Yes, you should file a return. Filing a return will allow you to either delay the use of your tuition fees or transfer them to a parent. It will also make you eligable for programs like GST Rebates and potentially tax credits for Rent / Property Taxes.

You will have to report your rental income and rental expenses. However only the interest portion of your mortgage is tax deductable.

Do students without an income have to file income tax (in Canada)?

Since you do rent, you have income and you HAVE to file an income tax. If you don%26#039;t disclose this income, and the CRA finds out, they will levy some pretty hefty penalties. You are allowed to take expenses into account when you file this income.

But even if you didn%26#039;t have this income, a student with no income should file anyway otherwise he/she would not be able to carry forward all of the credits that are earned as a student.

Do students without an income have to file income tax (in Canada)?

Yes, you absolutely should file a return. Not only will you be allowed to carry forward your tuition and education amounts on Schedule 11, but you also will qualify for GST and provincial tax credits and get money back. When I was a student, I filed and got back all sorts of cash for things like college residence (only $25 back then), Ont. Sales Tax Credit. Now, you also get a GST credit. Go for it!