Tell your accountant about holding fees

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Tell your accountant about holding fees
Holding expenses include specific categories of investment-related expenses that can be deducted from taxable income on your tax return. Think of them as costs associated with "holding" or maintaining your investments.

By claiming these deductions, you can offset some of the costs example of thailand phone number associated with growing your wealth, potentially leading to lower taxes or a larger refund.

Did you know that you can sometimes claim the interest on your student loans? It’s true! This valuable tax deduction can significantly reduce your tax burden, especially in the first few years after graduation when student loan payments can feel overwhelming.


Student loan interest: relief for students and recent graduates
The Canadian tax system recognizes the financial burden of student loans and offers a huge benefit: the ability to deduct the interest you pay on qualifying student loans from your taxable income. This means you can subtract the total amount of interest you paid from your taxable income, which can result in a lower tax bill or a larger refund.



Here's how it works: Keep track of all the interest you pay on your student loans throughout the year. When you file your taxes, you can claim a deduction for the total interest you paid on your return. This deduction lowers your taxable income, which can potentially reduce your tax liability.