As the Canada tax deadline approaches April 30, experts say many taxpayers may miss out on valuable claims that could increase their refunds.
Jeet Dhillon, senior portfolio manager at TD Wealth, told Global News that filing taxes doesn’t need to be stressful.
“We think of tax filing as a once-a-year event, and then as we get closer to the filing deadline, everyone is in a rush,” he said. “This shouldn’t be a stressful event.”
Dhillon suggested reviewing past returns to identify new or missed opportunities.
“Go down that list, line by line, and then think back, ‘Okay, what’s changed for me in the last year that maybe didn’t apply last year but might apply now?'”
Ryan Miner, tax director at CPA Canada, told Global News that gathering missing information is important: “When you have the information, make your best guess and fix,” he said.
Among lesser-known claims, tuition for individuals with learning disabilities may qualify as a medical expense.
“Tutoring is one that’s not comfortable because it doesn’t feel therapeutic. There’s a provision for that,” Minor said.
“If you have to pay something out of pocket, and especially if you’re going out of the country, these are still medical expenses, and someone should keep track of them,” Dhillon said.
