What types of income are Québec students likely to have?
To enjoy deductions and credits, you must have some income to reduce. Here are possible sources of income:
- Scholarship exemption – the exact amount depends on your situation; you may be able to reduce your income from a scholarship, fellowship or bursary by $500 to $1,000
- Employment (did you know it is to your advantage to declare your tips to your employer ?) – T4 and Relevé 1
- Employment insurance benefits – T4E
- Scholarship, grant or bursary – T4A and Relevé 1
- RESP (Registered Education Savings Plan) – T4A and Relevé 1
- RRSP (for Lifelong Learning Plan ) – T4RSP (not taxable) and Relevé 2 (taxable >$10,000)
What deductions and credits are available to Québec students? What are the amounts that I might be able to transfer to a parent, grand-parent or a spouse?
| Deduction/Information slip | Form where info is entered on your return | Can transfer to parent or grandparent? | Can transfer to spouse? | If not transferred, can be reported to future year? | |
| Federal | Eligible tuition fees (T2202, Box A)
Textbook amount (incl. on T2202) Unused amount from previous years (fed. notice of assessment or reassessment) |
Schedule 11
Schedule 11 Schedule 11 T1-M/TP-348 |
Yes
Yes No No |
Yes
Yes No In certain cases |
Yes
Yes Yes Yes |
| Québec | Amount for postsecondary study (RL-8, box A)
Tuition or examination fees (RL-8, box B) Textbook amount Unused amount from past years (prov. notice of assessment or reassessment) Interest paid on student loan (bank summary) |
Schedule S
Schedule T n/a Schedule T Line 385 |
Yes, but only to parent.
Yes to parent or grandparent n/a No No |
No
No n/a No No |
No
Yes n/a Yes No |
Are there other deductions that students may forget on their return?
- You may be able to claim moving expenses. You will use form T1-M on your federal return and TP-348 on your Québec return.
- Childcare expenses are often overlooked as well. You may be able to claim a deduction if you needed childcare to attend an admissible educational program. You can deduct childcare expenses on both returns if your child was in a private daycare. If it was a government-funded daycare, you can only claim the expenses on your Québec return. You will receive a Relevé 24 indicating the amount you paid.
- You can claim your public transportation passes on your federal return.
- If you have started to repay your student loans, you can claim the interest you paid on both returns.