Tax season in Canada can feel overwhelming, but for many it can also bring a welcome surprise — a large tax refund. As the 2024 tax filing deadline approaches, Canadians may find themselves eligible for unexpected credits, deductions, and reimbursements that could boost their refunds significantly. Whether you’re a student, a renter, a freelancer, or simply someone who made eco-friendly upgrades last year, there are several lesser-known ways to get some of your money back from the CRA.
What’s more, recent changes to laws and benefit structures in Canada have opened up additional avenues for individuals and families to receive refunds. From climate action incentives to employee home office deductions, the scope for savings is wider than ever. Understanding these opportunities can lead to hundreds or thousands of dollars added to your bank account this year — and it all starts with knowing where to look.
Overview of top tax refund opportunities
| Refund Opportunity | Eligibility | Estimated Return |
|---|---|---|
| Home Office Expense Deduction | Remote employees in 2023 | Up to $500 |
| Canada Workers Benefit (CWB) | Low-income workers & families | Up to $2,616 |
| Climate Action Incentive Payment (CAIP) | Residents in eligible provinces | Up to $976 per family |
| Tuition Tax Credit | Students enrolled in qualifying programs | Varies (based on tuition amount) |
| GST/HST Credit | Low/middle-income individuals | Quarterly payments — varies |
| Medical Expense Deduction | Out-of-pocket health costs | 15% of medical costs over threshold |
| RRSP Contributions | Registered users with contributions | Varies (based on income & amount) |
| Moving Expenses | Work or school-related moves over 40 km | Based on claimed expenses |
| Apprentice & Tradesperson Tools Deduction | Trades workers with tool expenses | Up to $500 deduction |
What changed this year
Several key changes in Canadian tax legislation have opened the door to larger refunds in 2024. Notably, the Canada Workers Benefit (CWB) saw increased automatic advance payments, ensuring that many workers receive support even before filing. In addition, the Climate Action Incentive Payment (CAIP) has transitioned to quarterly payouts, providing recurring benefits for Canadians in eligible provinces like Ontario, Manitoba, Saskatchewan, and Alberta.
The temporary home office deduction method of up to $500 remains available for those who worked remotely due to COVID-19 or flexible office arrangements, making it simpler than ever to claim without submitting excessive paperwork. Plus, students and apprentices can claim more under adjusted tuition credit rules and expanding eligible expense lists.
Who qualifies and why it matters
If you earned less than $70,000 in 2023, were a primary caregiver, student, or worked freelance or remotely, you likely qualify for one or more substantial tax credits. These aren’t fringe scenarios — they apply to millions of Canadians. For example, nearly one in four tax filers receive the GST/HST credit, and many more miss out only because they didn’t check eligibility or file correctly.
It matters not just because you may get a bigger refund, but because these credits often reflect changes in life — graduating, parenting, buying a home, or losing income. Taking the time to understand how personal milestones tie into tax eligibility can significantly impact your financial well-being.
Nine common refund boosts Canadians overlook
1. Climate Action Incentive Payment (CAIP)
For residents in selected provinces, CAIP offers quarterly cash back for the increased cost of carbon taxes. There’s no separate application; you only need to file taxes to receive payments. A family of four in Alberta could receive nearly $1,000 annually.
2. Tuition Tax Credits
Whether you’re a full-time or part-time student, you can claim tuition fees paid to recognized post-secondary institutions — and even transfer unused amounts to parents or spouses. For many students, this translates to hundreds of dollars annually.
3. Home Office Expense Deduction
Those working from home in 2023 can claim up to $500 through the simplified “temporary flat rate method” — no receipts required. More detailed deductions covering internet, utilities, and workspaces are also available by using T2200S/T777S forms.
4. Canada Workers Benefit (CWB)
This refundable tax credit supports low-income workers and includes a disability supplement. Couples can qualify for combined amounts of over $2,500, and many Canadians are now receiving advance payments automatically.
5. Medical Expense Tax Credit
If you paid out-of-pocket for dental, prescriptions, disability services, or even travel for treatments, you may claim 15% of allowable expenses beyond the income threshold. Claims can extend to partners and dependents as well.
6. GST/HST Credit
Based on family net income, this quarterly credit supports lower-income households. Even working individuals early in their careers may qualify automatically – but you must file a return to trigger the payment cycle.
7. Moving Expenses Deduction
If you moved 40 kilometres closer to a new school or job this year, you’re entitled to claim reasonable expenses like transportation, meals, and temporary housing. It’s especially valuable for students or those transitioning to new employment.
8. Apprentice & Tradesperson Tool Deduction
Trades workers who purchased necessary tools not reimbursed by an employer can deduct up to $500. New apprentices may also qualify for additional tax credits or benefit programs through provincial programs.
9. RRSP Contributions
Contributions made before March 1, 2024, count toward 2023 tax savings. The amount you save depends on your income, but for many, each $1,000 contributed could reduce taxes by $200–300, and even boost refunds due to lower taxable income.
Who wins and who misses out in 2024
| Winners | Losers |
|---|---|
| Remote workers using home office deduction | High earners without RRSP contributions |
| Low-income individuals eligible for CWB & GST Credit | People who don’t file because they didn’t earn income |
| Families in CAIP provinces | Relocated workers unaware of moving expense eligibility |
| Students and apprentices | Canadians failing to track medical receipts |
How to apply step-by-step
Most of these credits don’t require separate applications — but you must file an accurate and timely tax return. Here’s how to ensure you’re set up for success:
- Gather all necessary T-slips (T4, T4A, T2202) and receipts.
- Use certified tax software or a tax professional familiar with your situation.
- Be honest and thorough — claiming only eligible amounts supported by receipts.
- Double-check refundable as well as non-refundable tax credits.
- File by the deadline (typically April 30) to receive benefits without delay.
“Many Canadians miss hundreds of dollars simply by not checking all their eligible credits. It’s worth speaking to a professional or using CRA tools for a full scan.”
— Rachel Lang, Tax Advisor
FAQs about Canadian tax refunds
Do I have to apply separately for the Climate Action Incentive?
No — if you live in a qualifying province, the incentive is processed automatically when you file your taxes.
What if I earned no income — should I still file a return?
Yes. Filing ensures you receive GST/HST credits and other benefits available based on residency or age, not just income.
Can RRSP contributions affect my eligibility for other benefits?
Yes. They reduce your taxable income, which could increase other credits like GST or Canada Workers Benefit.
What receipts should I keep for medical expenses?
Keep all pharmacy, dental, travel, and health-related receipts, especially for out-of-pocket payments not covered by insurance.
Can I transfer my tuition credits to my parents?
Yes, students can transfer up to $5,000 in unused federal tuition tax credits to parents, grandparents, or spouses.
What is the deadline to make RRSP contributions for this year’s tax return?
You have until March 1, 2024, to contribute to an RRSP to reduce your 2023 taxable income.
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