There are some cases where you don’t have to file a tax return. For example:
- If your tax is withheld at source and you have no other sources of income or other deductions.
- if you have no income to report.
But even in these cases, there are reasons why you should file a return:
- To recover any overpaid tax or other source deductions. To learn more, read Use the tax system to 'Pay Yourself First' and get a raise
- To take advantage of refundable tax credits. These include the Child Tax Benefit, Goods and Services Tax Credit and the Working Income Tax Benefit.
- To create contribution room in a Registered Retirement Savings Plan ( RRSP).
- To create contribution room for the Tax Free Savings Account ( TFSA).
Note: As a resident of Canada for part or all of a tax year, you must file a tax return if you: Owe tax; or Want to receive a refund.
Learn more now from the Canada Revenue Agency. Content in this section is provided in partnership with the Investor Education Fund, a non-profit organization promoting financial literacy to Canadians. To find out more go to GetSmarterAboutMoney.ca.