Need more tax deductions?

Did you know that some Canadians are entitled to benefits and credits but they don’t know that they are? You may be leaving money on the table by not filing your income tax and benefit return.

The Canada Revenue Agency (CRA) wants you to receive the benefits and credits you’re entitled to. They use the information from your tax return to calculate your benefit and credit payments.

The only way to find out what you are missing is by filing!

Consider these good reasons as to why you should file:

Benefits and credits: Take advantage of these benefits and credits. When you file your income tax and benefit return, you may be are entitled to:

• Tuition tax credit
• Interest paid on your student loans
• Canada training credit
• Canada workers benefit
• Goods and services tax / harmonized sales tax (GST/HST) credit
• Canada child benefit
• Provincial and territorial benefits
• Climate action incentive payment

Tax refund: We are all entitled to have a basic personal amount that’s adjusted each year. This non-refundable tax credit means that you don’t pay tax on any of your earnings that are equal to or less than this amount. In some cases, you may receive a tax refund when you file an income tax and benefit return, even if you didn’t earn an income at all.

You may be able to claim other credits

If you owe money this year, you may be able to claim certain non-refundable tax credits. If you are eligible to claim them, non-refundable tax credits lower the taxes that you owe at tax time. For example, you may be able to claim the:

• Canada caregiver credit
• Disability tax credit
• Medical expenses tax credit
• Home accessibility expenses tax credit
• Home office expenses for employees

Please call us at 604 558 2234 or visit the following web page to learn more