July The temperature usually rises in July, but the prices of certain items drop. With barbeque season in full swing, let us give you some suggestions for your next barbeque party... Does sweet corn sounds good?
July Mid-year sales are here!!! If you are thinking about getting your new outfits for your new semester, July is the perfect month to do it. With Fall Collections hitting the stores, lets go and get ready for the new college year.
All About Tax
Find helpful tips below to remember while filling your taxes this year!
You can file your taxes for free!
Save money when filing your taxes by using free softwares such as Turbo Tax Free and SimpleTax! You can also search on the CRA website for free tax clinics on your area.
Minimize the amount of tax you have to pay by filing your T2202 tax form!
A T2202 is an income tax form issued to post-secondary students which shows the amount of tuition that can be deducted from your tax bill. Depending on your situation, this form either will help you pay less taxes for the year or give you a nice refund! You can find it on Web Advisor by going to Financial Information, View My T2202.
What is the difference between a T4 and a T4A?
A T4 is a tax slip issued to you by your employer. This slip shows how much employment income you were paid during the tax year and the amount of income tax deducted. A T4A tax slip includes other types of income. If you received a bursary, scholarship or a monetary award from Fanshawe, a T4A will be issued to you.
CERB and CESB payments are taxable!
If you received CERB or CESB payments, you are required to pay taxes on these. A T4A will be issued to you by the CRA which you will need to include when filing your taxes. If your total income for the year was less than $12,000 you dont have to worry about paying any income tax!
Dont forget to claim the Climate Action Incentive tax credit!
If you were over the age of 18 and a resident of Ontario on December 31, 2020, you are elegible to claim the $300 tax credit for single adults. The amounts vary for couples and dependants. Visit the CRA website for more information.
Free Tax Clinics and Free Tax Software for Students
Need help filing your taxes? See below for Free Tax Clinics for Students.
Looking for software to file your taxes? Check out UFiles free software for students to complete their taxes.
Please see below for helpful resources to help you start on the path to Financial Freedom.
Road to Financial Freedom
When it comes to personal finance there are a lot of do‘s and don‘ts and knowing what to do and what not to do is key to you and your families financial well-being. Fortunately, the Fanshawe Student Union cares about you and wants to see you succeed. The FSU Finance Coordinator has provided you this step-by-step guide to start getting your finances in order... read full article
Apps: To make budgeting more accessible for you, check out Mint and Goodbudget. They are both free to download and are available in the App Store and Google Play.
Desktop: For desktop users we have included a free budget template that is already done for you, simply plug in your information! You can also customize it to better reflect your personal situation.
Fanshawe Student Union Student Bursary
Available for Fanshawe Student Union employees who are currently enrolled in a full time post secondary program with a minimum GPA of 2.0
Student must demonstrate financial need
Student must have completed at least 50 hours of work for the FSU during the Fall semester of study
Student must meet Ontario Residency criteria
Student must meet Canadian Citizenship criteria
Applications will be made available, upon request, to eligible students by contacting the Student Awards Office
Would you like to make an appeal regarding a financial decision? If you would like to make an appeal you can drop by E2020 to pick up an appeal information pamphlet and an application or contact Tanushree Prasad, FSU Advocacy and Communications Coordinator in SC1000 or email email@example.com, or call 519.452.4109 ext. 6341
Student Assistance Bursaries
Fanshawe College Student Assistance Bursaries have been established by the College, in accordance with Ministry
guidelines related to tuition fees. These bursaries are available to students who have a demonstrated financial
need while in school. Both educational and personal expenses related to program study will be considered. Students
attending on a full-time basis within a post-secondary or post-diploma program at Fanshawe College are eligible to