November is Financial Literacy Month, and this year’s theme, ‘Talk Money,’ encourages Canadians to have open, honest conversations about their finances. Talking about money is not easy – we get it. However, improving your tax literacy can be directly beneficial to you! Learn how doing your taxes can put money in your pocket, help you save up for a home, or your retirement. We also share tips on how to protect your finances from scams and fraud.

As a student living in a digital world, you’re probably already pretty tech savvy, but now it’s time to get tax savvy! We know filing an income tax and benefit return can feel overwhelming and confusing, but we can help.

Tax savvy tip – filing your tax return every year can make your funds go further. You can potentially:

• get (or continue to get) the benefit and credit payments you’re eligible for, like the goods and services tax/harmonized sales tax (GST/HST) credit and related provincial or territorial credits;

• claim tax credits, like the tuition tax credit and interest paid on student loans;

• get a refund.

This Financial Literacy Month (FLM) we are talking about money and sharing with you ways to improve your finances through improved tax literacy. Tax know-how doesn’t happen overnight, and that’s okay. Every bit of knowledge you gain can have a big impact on your financial health. We’re here to guide you, one step at a time.

Tax literacy is an important life skill, and we want to make sure that students have the knowledge, skills, and confidence to make the right decisions about taxes. This back-to-school season, we’ve got you covered! Whether you are an educator, a parent, or an organization that supports educational growth, there are many resources that you can take advantage of this academic year.

It’s time to hit the books again! As you’re getting ready to go back to school, there are some important things about benefits, credits, and taxes to keep in mind. Get organized now so you’ll get the benefits and credits that you’re entitled to and save yourself some headaches later.

As the new academic year approaches, helping your child understand taxes can set them up for success. There are many resources to enhance your child’s journey through the tax system, and the CRA are here to help.