Canada Tax Tips: Maximize Deductions Before the April 30 Filing Deadline

A Canadian tax specialist, Gerry Vittoratos from U-File, advises taxpayers to review potential deductions and credits to maximize their returns before the April 30 filing deadline. He notes that Canadians annually fail to claim millions in deductions due to insufficient archiving of medical receipts and donations. Vittoratos emphasizes the ability to retroactively claim deductions, including RRSP receipts, for up to 10 years. Commonly overlooked areas include medical expenses and disability credits, which can unlock further credits like home accessibility for renovations such as bathroom railings or ramps. Other often-missed credits include the Canada Caregiver Credit, Home Office Credit (detailed method), and the Moving Expenses Tax Deduction (if the new home is at least 40 km closer to the new work location). Canadians eligible for the Home Accessibility Tax Credit can claim up to $10,000 in home renovation expenses, and these same renovations can also be claimed as a medical expense under certain conditions. Charitable donations can also be retroactively claimed for up to 10 years.