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.

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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.

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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.

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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.

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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.

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