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Student Tax Return Calculator Ontario

Reviewed by Calculator Editorial Team

Use this Ontario student tax return calculator to estimate your potential refund. The calculator accounts for Ontario's student tax credit and provides a clear breakdown of your eligible amount.

How to Use This Calculator

To calculate your Ontario student tax refund:

  1. Enter your total taxable income for the year
  2. Select your student status (full-time or part-time)
  3. Enter the number of months you were a student
  4. Click "Calculate" to see your estimated refund

The calculator uses Ontario's current tax rates and student tax credit thresholds. For exact amounts, consult the Canada Revenue Agency (CRA) or a tax professional.

Formula Used

The Ontario student tax credit is calculated as follows:

Student Tax Credit = (Student Status Factor × Number of Student Months) × $1,000

Where:

  • Full-time student status factor = 1.00
  • Part-time student status factor = 0.50
  • Number of student months = Actual months you were enrolled

The credit is reduced by 10% for each $1,000 of your taxable income over $15,000. The maximum credit is $1,000 for full-time students and $500 for part-time students.

Worked Example

For a full-time student with $18,000 taxable income who studied for 10 months:

  1. Base credit = 1.00 × 10 × $1,000 = $10,000
  2. Income adjustment = ($18,000 - $15,000) × 0.10 = $300
  3. Final credit = $10,000 - $300 = $9,700

This student would receive an estimated $9,700 tax refund.

Frequently Asked Questions

Who qualifies for the Ontario student tax credit?

Full-time students in Canada who are enrolled in a recognized educational institution and have taxable income of $15,000 or less. Part-time students must have taxable income of $12,000 or less.

How is the student tax credit applied?

The credit is applied directly to your tax return, reducing your tax payable. If you owe no tax, the credit may be refunded to you.

Can I claim the student tax credit if I work part-time?

Yes, but you must meet the income thresholds and be enrolled in a recognized educational program. The credit amount is reduced based on your income.