Things to Consider for Long-term Internship
Consider buying RRSP’s to reduce the amount of taxes paid while working. If your income is lower when you return to school these investments can be cashed at a lower rate.
Those who access OSAP will need to complete a Continuation of Interest Free Status (CIFS) form every September and May that they are on long-term internship.
If you move at least 40 kms closer to your new place of work, you can deduct eligible moving expenses from employment income. For more information you can visit the CRA website and view the form "T1-M Moving Expenses Deduction."
Canadian citizens and permanent residents are not covered by the University health plan while on long-term internship. Be sure to keep your OHIP number with you. For extra Medical Coverage such as prescriptions, eye glasses, dental look into a private insurance plan, i.e. Blue Cross.
International students participating in long-term internship, please click here for UHIP information.
Ask your employer about earned holidays. Find out how many you are entitled to and if there are any restrictions regarding when you can take them. Also, find out about statutory holidays (don’t assume that the company will close on regular statutory holidays).
Ask your employer how they reimburse for overtime. Some companies give you time off in lieu of pay, others have a pay scale depending on when the overtime is worked.
Students who qualify to receive a continuing scholarship in the academic year in which they participate in this Program are permitted to defer receipt of the scholarship for one year. Direct queries to Associate Dean (Undergraduate).
Students are not eligible for the bus pass, or free access to the recreation centre on campus, as ancillary fees are not paid while out on internship. Long-term internship students can pay a discounted fee to utilize the Western Student Recreation Centre on campus.