Tax Tips

21 Tax Tips #1 Scholarships (T4A)

Scholarship amounts received by students to help pay for tuition, books, and living expenses associated with higher education will not be taxed as income, as long as the same year’s tax return includes a tuition paid receipt (T2202).

If you received scholarship amounts but did not go to school, and therefore do not have a T2202 Tax Slip to claim, the scholarship amounts you received will be considered income, and taxed accordingly.

>> It’s easy to find your T2202 from years you attended school, by logging into your student portal or the schools’ registrar office.

For multiple years, scholarships will often be available for ALL years on MyAccount; T2202 Tuition receipts will only be available online for the most recent years.

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