Tips on how to maximize tax return as deadline nears
Posted Apr 9, 2025 2:15 pm.
The deadline to file your taxes is right around the corner and one tax specialist has some tips for those who haven’t yet submitted this year.
Every year Canadians leave millions of dollars in tax deductions and credits on the table, according to U-File tax specialist Gerry Vittoratos.
“By having a really good archiving system, to archive your medical receipts, to archive your donations, then you won’t miss out,” he says.
He says an insufficient filing system is part of the problem and a lot of people just aren’t claiming what they can.
“The good part about a tax return is you can retroactively go back and make your claims,” says Vittoratos. “That that includes anything on your tax return, including your RRSP receipts.”
He says RRSP receipts can be retroactively claimed as far back as 10 years.
Two commonly overlooked areas on Canadian tax returns are medical expenses and disability, says Vittoratos.
“When they’re entitled to that disability credit, they’re not only entitled to the credit itself, but it opens the door to other credits they can claim,” he says. “For example, home accessibility, if they have renovation fees for a railing in the bathroom, or a ramp.”
He says people tend to overlook the Canada Caregiver Credit, Home Office Credit and the Moving Expenses Tax Deduction.
Canadians eligible for the accessibility credit can claim up to $10,000 in home renovation expenses, and while it may seem too good to be true, he says they can actually double dip in this area and claim those same renovations as a medical expense.
And some good news, if you forgot to claim your charitable donations last year, he says it’s not too late. You can claim them retroactively for up to 10 years.
The deadline to submit is Apr. 30.
