Tax Time
Bow Valley College, in partnership with CPA Alberta, is hosting presentations, workshops, and free virtual tax clinics for eligible students and their spouses. For information contact us at financialcoach@bowvalleycollege.ca.
To avoid interruption of benefits, file your 2023 personal tax return by the April 30, 2024 deadline. If you owe taxes, make your payment by the April 30, 2024 deadline to avoid penalties.
Tax Time Series 2024
The Centre for Financial Empowerment is hosting the Tax Time series to support students this tax season. Click here to register for these events.
Date |
Time |
Presentation |
|---|---|---|
| Tuesday, January 30 | 12:30-1:30pm |
Effective Tax Strategies This presentation is for anyone who wants to have a better understanding of Canadian tax system and minimize the amount of tax they need to pay. |
| Tuesday, February 13 | 12:30-1:30pm |
What You Need to Know About Tax This presentation is for newcomers to Canada who want to understand the Canadian tax system and learn good tax practices. |
| Tuesday, February 27 | 12:30-1:30pm |
Slaying Your Taxes This presentation is for post-secondary students who want to learn about taxes and get answers to the top questions students ask. |
| Tuesday, March 26 | 4:00-5:30pm |
How to File Your Taxes This is a hands-on workshop where you will learn how to complete your own tax return using Simple Tax online software. |
Can't attend the presentations? No problem! The Canada Revenue Agency (CRA) has tutorials for anyone who wants to learn about tax filing. Visit the Learn About Your Taxes page to learn at your own pace.
Free Tax Clinics
Tax Clinics for Bow Valley College Students
Bow Valley College, in partnership with CPA Alberta, is hosting virtual tax clinics for eligible Bow Valley College students and their spouse. You must have a simple tax situation, have a modest household income, and meet all other eligibility criteria:
Family Size |
Total Family Income(2022 Notice of Assessment) |
|
1 person |
$35,000 |
| 2 people | $45,000 |
| 3 people | $47,500 |
| 4 people | $50,000 |
| 5 people | $52,500 |
| More than 5 people | $52,500 + $2,500 for each additional person |
*Family size or household includes an individual, or a couple, and their dependents (children under the age of 18).
To participate in the free tax clinics offered at Bow Valley College, you must attend an information session to determine if you meet eligibility criteria.
Information Sessions 2024
Date |
Time (Drop-In) |
Location
|
| Tuesday, February 20 | 11:00am-1:00pm | South Campus |
| Tuesday, February 20 | 3:00-5:00pm | South Campus |
| Friday. February 23 | 10:00am-12:00pm | MS Teams (register here) |
| Monday, February 26 | 1:00-4:00pm | South Campus |
| Tuesday, February 27 | 4:30-6:00pm | South Campus |
Tax preparation will be done by appointment only. Appointments are limited and will be available on a first-come, first-served basis. Please check back in February 2024 for more information about how to make an appointment.
Common Tax Documents
Documents that you will need to file your tax return will be issued by February 28. If you have filed a tax return before, you can access these forms from your myCRA account. This is a list of the most common documents that you may need to file your tax return:
Document |
Description |
Issuing Organization
|
| Notice of Assessment (NOA) 2022 |
Evaluation of your tax return *You need to have filed a tax return in 2023 to have a Notice of Assessment for 2022 |
Canada Revenue Agency |
| T2202 |
Summary of tuition and fees paid (at Bow Valley College, issued for Certificate and Diploma programs only) *Download from your myBVC account after February 28, 2024 |
Bow Valley College |
| T4 | Summary of money paid | Employer |
| T4A | Scholarships and bursaries; honorarium paid | Bow Valley College |
| T4A | Education costs (tuition, fees, books, and other costs) and income support (living allowance, child benefits, etc.) from Foundational Learning Assistance Program | Government of Alberta |
| T5 | Income from savings and investments | Financial institutions; investment companies |
| T5007 | Education costs (tuition, fees, books, and other costs) and income support (living allowance, child benefits, etc.) from Foundational Learning Assistance Program | Government of Alberta |
| T5007 | AISH financial assistance and benefits | Government of Alberta |
Tax Clinics in Calgary
Free tax clinics are available for eligible individuals through the Community Volunteer Income Tax Program (CVITP) and the Canada Revenue Agency. Community organizations participating in the Community Volunteer Income Tax Program (VCITP) offer free tax preparation through walk-in clinics, by appointment, in-person and virtually. To find a free tax clinic near you, use the Canada Revenue Agency tool at Get Your Taxes Done at a Free Tax Clinic. In Calgary, call the City of Calgary 2-1-1.
To be eligible, you must have a simple tax situation and modest household income as determined by the Canada Revenue Agency:
Family Size |
Total Family Income(2022 Notice of Assessment) |
|
1 person |
$35,000 |
| 2 people | $45,000 |
| 3 people | $47,500 |
| 4 people | $50,000 |
| 5 people | $52,500 |
| More than 5 people | $52,500 + $2,500 for each additional person |
For more information about the eligibility requirements, visit the Canada Revenue Agency About Free Tax Clinics page.
Resources For Filing Your Tax Return
The following resources are available at the Canada Revenue Agency website. Click the links to access the information:
- What You Need to Know for the 2024 Tax Filing Season (2023 tax year)
- Students and Income Tax
- Eligible Tuition Fees (Understanding Your T2202 Tax Slip)
- Amounts Which Cannot be Claimed as Tuition Fees
- Benefits, Credits and Taxes for Newcomers
- File Your Taxes Online: CRA Certified Tax Software
- Getting Ready to File Your Taxes on Paper
- SimpleFile (phone automated service for filing your tax return)
- Understanding Your Notice of Assessment (NOA)
- Contact the Canada Revenue Agency (CRA)
- Scams and Fraud (be aware of when and how the CRA may contact you)
- Forms and Publications.
- Government Benefits Payment Dates
Indigenous Students
Get information about tax filing at Taxes and Benefits for Indigenous Peoples. Help is available for filing your taxes at the free tax clinics offered at Bow Valley College and the Community Volunteer Income Tax Program (CVITP). For a list of free tax clinics near you, visit the Canada Revenue Agency at Get Your Taxes Done at a Free Tax Clinic or the City of Calgary 2-1-1.
International Students
To know more about your tax obligation and documents required to file your income tax return, visit the Canada Revenue Agency at Taxes for International Students Studying in Canada. You can get help with tax filing at Bow Valley College's free tax clinics or at a Community Volunteer Income Tax Program (CVITP) clinic. To find a free tax clinic in your community, use the Canada Revenue Agency's tool at Get Your Taxes Done at a Free Tax Clinic. In Calgary, call the City of Calgary 2-1-1 for free tax clinics near you.
