Most Canadians unaware that unused tax credits from prior years are still available: poll

H&R Block has found an average of $3,000 in unused tax credits from prior returns. Photo by PEXELS

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Tax-filing season is in full swing, but many Canadians may be missing out on unused tax credits from the past decade because they’re too lazy to claim them.

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Sixty-five per cent of Canadians are unaware that they can amend old tax returns to claim any benefits they have missed in the previous 10 years, according to a recent survey by H&R Block Canada Inc.

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Upon learning that they can still claim unused benefits from prior years, 38 per cent of respondents said they believe they may have some unused credits, but 72 per cent said that going through old tax returns to uncover unclaimed credits feels like too much of a hassle.

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“There’s no doubt that there are likely hundreds of thousands of Canadians who have left money on the table from missed credits and benefits from prior tax returns,” Yannick Lemay, a tax expert at H&R Block Canada, said in a news release.

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He said H&R Block has found an average of $3,000 in unused tax credits from prior returns.

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“We encourage Canadians to explore if and where they may have missed putting money back in their pockets from previous tax returns, and to focus on ensuring they don’t miss out on the tax credits and benefits that are most commonly missed,” he said.

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Commonly overlooked tax credits include the Child Care Expense Deduction, Canada Caregiver Credit and Medical Expense Tax Credit.

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The Child Care Expense Deduction allows Canadians to deduct up to $8,000 per child under the age of seven, $5,000 per child aged seven to 16 and $11,000 for a disabled child.

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Canadians supporting a spouse, partner, child or dependent with a disability or medical condition can claim a non-refundable tax credit of up to $8,375 on their 2024 tax return under the Canada Caregiver Credit.

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The Medical Expense Tax Credit lets Canadians claim an array of medical expenses, including prescription glasses, dental work and therapy.

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H&R Block said there are also benefits for student loan repayments, low-income workers, tuition, moving expenses and first-time homebuyers that commonly go unclaimed.

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The deadline for most Canadians to file their taxes is April 30, though self-employed Canadians and their partners have until June 15.

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