Plan ahead to get a tax bonus using the money you've saved for tuition The Canada Revenue Agency encourages continuing your education via the Lifelong Learning Plan, or LLP. Under this program you may make a tax-free withdrawal from your RRSPs when you are entering an educational program as a full-time student for at least [...]
Q: I’m an aspiring journalist who just finished an internship. On one hand, it was a pretty prestigious place to have interned. On the other hand, I only got a small honorarium in exchange for my efforts. How do I declare the honorarium from my internship on my income tax return? A: First of [...]
If you’re thinking of heading back to school come September, a simple maneuver now can give you an extra tax boost in the future without costing you a cent. The Lifelong Learning Plan (LLP) is similar to the more familiar Home Buyers’ Plan (HBP): you can use money from your RRSP to help you with [...]
Even if you never attended a single frat party last year, you may qualify as a student to the Canada Revenue Agency — with all the tax credits pertaining thereto.
