BMO Financial Group

BMO Financial Group

August 07, 2013 09:00 ET

"BMOst of Summer" Financial Tip of the Week: Maximize Your Summer Earnings by Taking Advantage of Student Tax Credits

TORONTO, ONTARIO--(Marketwired - Aug. 7, 2013) - As part of BMO Financial Group's ongoing commitment to financial literacy and 'Making Money Make Sense', BMO is releasing financial tips throughout the summer to help Canadians make the 'BMOst of summer' in 2013.

Financial Tip of the Day: Maximize your summer earnings by taking advantage of student tax credits.

For many post-secondary students, summer break isn't necessarily a vacation, but an opportunity to earn extra money to put towards paying for the upcoming school year. Working students should take advantage of tax credits that can help reduce the amount of federal and provincial taxes that students pay, thereby helping maximize their summer earnings.

"Working students should make the most of the money they've earned this summer and look for ways to save more and spend less," said Alan Hurst, Director, BMO Bank of Montreal. "Students are eligible for a number of tax credits, such as for employment, tuition and public transit, that can help make student life more affordable."

Mr. Hurst added that BMO offers a free banking plan for students, which includes a free Student Price Card (SPC Card) - providing discounts at hundreds of retailers and restaurants across Canada. Students are also entitled to an extra year of free banking after they graduate. Moreover, BMO offers a no-fee BMO SPC credit card, with a choice of AIR MILES or CashBack rewards in addition to embedded SPC Card benefits.

BMO offers a number of products and services that can help Canadians get more out of every dollar they spend this summer. For more details on how to make the 'BMOst of Summer,' drop by a BMO branch or visit

About BMO Financial Group

Established in 1817 as Bank of Montreal, BMO Financial Group is a highly-diversified North American financial services organization. With total assets of $555 billion as at April 30, 2013, and more than 46,000 employees, BMO Financial Group provides a broad range of personal and commercial banking, wealth management and investment banking products and solutions.

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