Taxes can be confusing, and the CRA tax rules continue to change. This Tax Tips infographic is updated annually and outlines deductions and credits to help ensure your clients are claiming all they are allowed to help lessen their tax bill.

Search for relevant Canadian tax credits and deductions.

Whether you are a home owner, a caregiver, a student or a business owner, you may be eligible to claim a number of credits and/or deductions to help you pay less tax this year. Discover more in the Tax Tips infographic.

If you’re a homeowner, there are several tax credits you might be eligible for. For example, the First-Time Home Buyers’ Tax Credit can offer financial relief, as can the First Home Savings Account deductions. Additionally, homeowners may qualify for other home-related credits, such as the GST/HST Residential Rental Property Rebate, the Home Accessibility Tax Credit, or the Multi-Generational Home Renovation Tax Credit, which can help offset some of the costs of home improvements.

For students, there are valuable tax credits to explore, including the Tuition Tax Credit, which can help reduce the amount of tax you owe. You can also claim interest on student loans, which can provide some financial relief. If you moved to attend post-secondary education, the Moving Expenses Credit might apply to help cover some of your relocation costs.

Tax Tips infographic outlines a number of credits available for those in the workforce. Self-employed individuals can deduct business-related expenses, while tradespeople may be able to claim costs for tools and dues. If you’ve worked from home, the Work from Home Program allows you to claim certain expenses, and the Canada Employment Credit may provide additional savings.

These are just a few of the many tax credits and deductions available to you. Be sure to check out the Tax Tips infographic to make sure you’re taking advantage of every opportunity to save!

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