Can I get my tax refund for this summer this year? Or early 2009?

Question

I am a student, and I only work during the summer, I should be getting back almost all of my taxes which is close to $3000, and I need it for tuition, can I get it back before next March?

Answer 1

Sorry, you wont realistically be able to file your return until 2009.

On the other hand, you should ask your employer for the TD1 form.  On this form you can estimate tuition and education credits, which will reduce the amount your employer is  withholding from each cheque.

Answer 2

You can file your 2008 tax return in January 2009, if you have  all the forms needed.  Your employer is only required to supply your t-4 by end of Feb, however.  Contact them and see if they can get it to you sooner.

The sooner you file, the sooner you'll get your refund, although CRA doesn't actually start processing returns until Feb, i believe.

You can, if your various credits will amount to more than you projected income, petition CRA to allow you to reduce or eliminate your tax withholdings.  That will let you keep it all, but you'll need to put it aside, since there will be no big refund in April....

One (not very smart, but sometimes necessary) option is to use H&R Block to file your return, and pay them their fee to get an instant refund.  That's run 15%, though.