Sign in
EN - Money

6 Tax Credits You Can Claim In 2021 That Could Save You Money When Filing

The deadline is fast approaching!👇💰

If you haven’t filed your taxes for the 2020-2021 year yet, it’s worth knowing about these tax credits you can claim in Canada.

If you bought a house for the first time this year, worked from home due to the COVID-19 pandemic or moved away to start a new job or attend university, you could be eligible for certain tax credits and deductions!

Editor's Choice: An Ontario Region Is Desperate To Stop A Big Outbreak From 'Spiralling Out Of Control'

With the April 30 tax deadline fast approaching, here are some of the various deductions and tax credits available right now that could help maximize your tax refund.

Medical expenses

While most people know you can claim medical expenses for things like prescriptions and dental bills, this tax credit actually covers a lot more than that.

For example, you can claim for things like air conditioners, therapy animals, the cost of your dietary requirements (like eligible gluten-free products) and more.

If you have any health conditions you haven’t claimed for before, it’s worth checking out the list of eligible medical expenses to see if you can get covered.

Find out more

Work from home deduction

Back in December, the Government of Canada acknowledged that many Canadians had been unexpectedly required to work from their homes due to the COVID-19 pandemic.

In response, the feds announced that the process for claiming home office expenses would become easier and would be available to more Canadians.

Eligible employees can get up to $400 back at tax time if they worked from home for over 50% of the time for at least four consecutive weeks in 2020.

Find out more

Child care expenses

Parents who are working or attending school and therefore paying for child care can claim back their expenses at tax time.

This includes caregivers providing child care services, nursery schools and daycare centres, as well as day camps, day sports schools and boarding schools.

Find out more

First-time home buyer

If you bought your first home during the pandemic, you could be entitled to a considerable tax credit of $5,000.

You will be eligible providing you bought a qualifying home and haven’t lived in a property owned by yourself or your spouse in the last four years.

Find out more

Climate action incentive

The climate action incentive is a refundable tax credit for certain provinces, which aims to compensate residents for increased expenses as a result of the federal carbon tax.

You can claim the payment if on December 31, 2020, you were a resident of either Alberta, Saskatchewan, Manitoba or Ontario and aged 18 or over.

It may reduce your amount payable or increase your refund when you file your income tax.

Moving expenses

If you moved to work, run a business or study as a full-time student in a post-secondary program, you may be able to claim some of the money you used to move.

If you relocated at least 40 kilometres closer to your new home for any of the above reasons, you should be able to claim back the cost of things like renting a moving vehicle or hiring movers.

Find out more

Narcity may receive a small commission if you purchase something we recommend in this article, which was created by the Narcity Shop team. Items are in stock and prices are confirmed at the time of publishing, but they can change at any time.

Sweater weather has finally arrived in Canada and I for one couldn't be happier. Along with stylish shackets and warm flannel sheets, we want to make sure you're as comfy as possible this fall. That's why we've put together this list of some of the softest and coziest sweaters the internet has to offer!

Keep Reading Show less

A Guinness World Record has just been bestowed upon a very, very tall Canadian teen, and he truly stands head and shoulders above most of us.

Hailing from Quebec, 15-year-old Olivier Rioux clocks in at a neck-ache-inducing 7 feet, 5.33 inches tall, which has earned him a place in the 2022 edition of the Guinness World Records as the world's tallest living male teenager. That makes him taller than any of the Toronto Raptors players.

Keep Reading Show less

COVID-19 Cases In Toronto Schools Are Already Being Reported Across The City

"We're carefully investigating and following our process."

COVID-19 cases in Toronto schools are being reported citywide this week with several ongoing investigations underway.

According to Toronto Public Health, cases have so far been confirmed in the following schools, Fraser Mustard, St-Michel French Catholic Elementary and West Hill Collegiate.

Keep Reading Show less

Justin Trudeau Just Promised To Crack Down On 'Mobs' Protesting In Health Care Settings

If elected, he says the Liberals would move to criminalize blocking health care buildings.

With anti-vaccine protests taking place all over the country on September 13, the federal leaders have finally weighed in and Justin Trudeau is not holding back.

"The Liberal Party of Canada, if reelected to form government, will make it a criminal offence to block access to buildings that provide health care," said Trudeau while in Vancouver on September 13. "Whether that's hospitals, clinics, abortion clinics, pharmacies, testing centres, it is not OK that across the country, hospitals are having to put up barricades today to manage the mobs coming their way."

Keep Reading Show less