One of the most common things we hear is: “I didn’t work much last year, so I didn’t bother filing.” Unfortunately, this decision can actually cost people money.
Filing your taxes is not just about paying the government. For many people, it is actually how the government determines what support you qualify for.
When you file your taxes, you may become eligible for:
- GST/HST credits
- Canada Child Benefit
- Climate Action Incentive payments
- Provincial benefits
- Housing supports
- Senior benefits
We have seen many people miss out on thousands of dollars simply because they did not file.
Another important reason to file is to keep your financial record current. If you ever apply for housing, student funding, or certain programs, they may request your tax information.
Filing also helps protect your identity. When your taxes are filed regularly, it becomes harder for someone else to try to file fraudulently using your information.
At FEI, we believe everyone deserves access to the benefits available to them. Filing your taxes is one of the simplest ways to protect your financial wellbeing.