Haven’t you heard? Canadian students are eligible to claim income tax credits on new and used university textbooks.Okay. Now we’ll slow down, ’cause we don’t want you to miss out on this.You can save money and earn tax credits when you trade textbooks or buy and sell used textbooks online.Really, it’s as easy as it sounds. Trade used university textbooks directly with other students and save – why buy new? Then just claim your “textbook credits” on your yearly income tax form at the end of the year, file your taxes, kick back and relax. You’ll get some money from the government if or when you have some income.If only exams were that simple.Used textbooks for tax creditsSince January 1st, 2007 Canadian students are eligible to claim tax credits on their textbooks without filing receipts. That’s right – without receipts! Whether you buy your books used or new, you get the same credit (so why buy new?)So, how does it work?Well okay, here’s the secret. Tax credits on Canadian textbooks are calculated based on the number of months you attend part-time or full-time studies.Just visit your university student service center and ask for a copy of your T2202A:o Part-time students:… Read full this story
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