These simple mistakes could cost you money when filing your tax return this year

It's time to file taxes in Canada.

But there are simple mistakes that could cost you money and make you miss out on money from the government.

Narcity spoke with Gerry Vittoratos, a tax specialist with UFile, and Stefanie Ricchio, a CPA and TurboTax spokesperson, about this year's tax season.

Here are some common mistakes that could cost you money when filing your tax return with the Canada Revenue Agency (CRA) this year.

Not being prepared to file

Ricchio said one of the most common mistakes is not being prepared.

If you don't stay organized throughout the year, it could be difficult to track down all eligible tax credits among the more than 400 options available when filing, the expert revealed.

Also, you might underestimate how long filing will take and then have to rush to file your return by the deadline.

"This last-minute scramble increases the likelihood of simple typos, entering incorrect numbers, or forgetting to include specific tax slips and expense receipts," Ricchio said.

Ricchio noted that people often don't plan ahead to coordinate their filing with their spouse or common-law partner, which can lead to "missed opportunities to optimize family-based credits and deductions."

Vittoratos agreed that not being ready to file because your tax documents aren't organized is a common mistake.

"Too often I have seen people who don't archive their receipts properly and miss out on expenses they could have used for credits," Vittoratos said.

If you're self-employed, not keeping track of your business expense receipts could lead you to forget to claim those expenses off your business income.

Not knowing about recent tax changes

Vittoratos told Narcity that many Canadians aren't aware of changes to the tax return from one year to the next.

"Because people are not aware of them, they can't benefit from them by the time tax season rolls around," Vittoratos said.

A few of the changes affecting filing this year are the new middle-class tax cut, top-up tax credit, Canada Groceries and Essentials Benefit, and Canada Disability Benefit.

"However, on the flip side, some perks have ended," Ricchio said.

The digital news subscription tax credit isn't claimable this year, and the Canada Carbon Rebate isn't on this tax return because it ended in 2025, so you can't apply for it anymore when filing.

Not claiming tax credits

There are refundable and non-refundable tax credits that you might not know you can claim on your tax return.

"Canadians should claim both types of credits to maximize their refund potential and lower their overall taxable income," Ricchio said.

Non-refundable tax credits like the Basic Personal Amount or the tuition tax credit are "essential," according to Ricchio. That's because non-refundable tax credits reduce the amount of tax you owe to the government.

Refundable tax credits are "highly valuable" because you get them regardless of how much income tax you paid.

Also, refundable tax credits can get you money from the government. If the amount of your refundable credits is more than the tax you owe, that difference is paid out as a refund.

"By claiming every credit you're entitled to, you ensure that you receive what you're owed and put dollars in your pocket," Ricchio said.

Not knowing about carry-forward amounts

You might not know about carry-forward amounts that you have banked in your tax return from previous years, Vittoratos revealed.

That includes unused capital/business losses, unused tuition amounts, and unused donation amounts.

"All of these amounts that are unused can be used in future years against tax payable," Vittoratos said.

You can find out if you have these amounts to use on your tax return this year by looking at your notice of assessment or signing into your online CRA account.

Not filing by the deadline

Canada's tax filing deadline is Thursday, April 30, 2026, for everyone except those who are self-employed.

But that's also when you have to pay your taxes if you owe any.

"The benefit to filing early is that if you have a refund, you can collect it sooner and do something productive with it faster, like paying off debt or investing it," Vittoratos said.

If you file close to or after the deadline and have a refund, there could be a delay in getting that money as the CRA processes other tax returns.

Also, Vittoratos told Narcity that if you have a balance owing, you have more time to save up to pay off that balance by filing early.

There are fees and penalties for not paying your balance owing or filing late.

If you file on time but don't pay your balance, the CRA charges compound daily interest starting the day after the deadline on any taxes you owe that are unpaid.

If you file after the due date and owe tax, you'll also be charged a late-filing penalty.

That penalty is 5% of your 2025 balance owing, plus 1% of your 2025 balance owing for each full month your return is late, up to 12 months.

You'll be charged a bigger penalty if you filed late and were penalized in 2022, 2023, or 2024.

Not filing at all

If you don't file your tax return at all this year, you could be missing out on money.

"An income tax return is required in order to receive most benefits paid by the government," Vittoratos said.

Ricchio also told Narcity that not filing your tax return is a mistake that can cause you to not receive money you're entitled to.

"Filing your taxes is the essential trigger for receiving government benefits like the Canada Child Benefit and the new Canada Grocery and Essentials Benefit because the CRA uses your tax return to verify your eligibility and calculate your payment amounts," Ricchio said.

To avoid payment interruptions, it's recommended that you and your spouse or common law partner file annually, even if you have no income to report.

"Benefits paid out starting in July 2026 are determined by the 2025 return you file this spring," Ricchio said.

READ NEXT: 13 Canadian tax credits you could claim when filing your return this year

This article's cover image was used for illustrative purposes only.