What You Can Claim on Your Tax Return
You might be aware about some deductions, credits and expenses you can claim on your personal tax return, but there are certainly some you don’t know about.
Both the federal and provincial governments have deductions, credits and expenses in several categories you can take advantage of, if you are eligible. Claiming these will help reduce the amount of tax you have to pay.
Claims can be made in the following categories:
- Family, child care and caregivers deductions and credits
- Education deductions and credits
- Disability deductions and credits
- Pension and savings plans, deductions and credits
- Employment expenses and credits
- Provincial and territorial tax and credits for individuals
- Climate action incentive
Did you know that you can claim the Canada training credit for eligible tuition and other fees paid to an eligible educational institution for courses taken in 2020 or claim up to $500 for amounts paid in 2020 for qualifying subscription expenses?
Check the entire list of deductions, credits and expenses you can claim! Our team can help you decipher if you are eligible or not for any of these.
Send us an email or give us a call at 705-475-0323now to get you started!
