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Claiming Student Loan Interest on the Tax Return

Montag, Februar 24th, 2020

Claiming Student Loan Interest on the Tax Return

The Canada sales Agency acknowledges that repaying student education loans are financially hard in many cases. The CRA offers a deduction for qualifying student loan interest payments to help offset some of that burden.

Eligible Interest

You are allowed by the CRA to claim the attention you’ve got compensated on nearly all your post-secondary student education loans on your own tax statements. But, you will find limitations regarding the kinds of loans that qualify:

  1. You simply cannot claim interest from unsecured loans or personal lines of credit even although you used those monies to fund post-secondary training. Also, you might not claim interest on student education loans gotten from international banking institutions. (mehr …)