Video: 2020 Tax Tips for Medical Students
Watch our tax tips video for medical students to see if government support programs and changed circumstances may affect your taxes.
Are you ready for tax time?
MD Financial Management’s “Tax tips for medical students” guide can help.
This past year has been different.
Find out how government support programs and changed circumstances may affect your taxes.
Let’s start with the Canada Emergency Response Benefit and Canada Emergency Student Benefit.
If you received these benefits, you might owe tax on them.
What about your tuition fees?
Besides the usual medical school tuition… find out what else qualifies for a tax credit.
Can you claim your exam fees? Or your CaRMS match fees?
If you have government student loans and you’ve paid interest on them, remember to claim your credit for that!
As a medical student, your tax returns may be relatively simple, but the process is likely to become much more complex as your career progresses.
The key is to take advantage of all deductions and tax credits available to you, so you can minimize the taxes you pay and maximize what you keep.
For more information, read MD’s “Tax tips for medical students” guide, or talk to a tax professional.