Yes, it’s a good idea to file taxes even if you have no income. You may qualify for benefits and credits like the GST/HST credit or Canada Child Benefit.

A tax deduction reduces your taxable income (e.g., RRSP contributions), while a tax credit directly reduces the amount of tax you owe (e.g., the basic personal amount).

Yes, you can claim home office expenses using the temporary flat rate method or the detailed method (with receipts and employer certification).

Yes, if you moved at least 40 kilometers closer to a new job, school, or business location, you may claim eligible moving expenses.

If you owe taxes and file late, you’ll face a 5% penalty on the balance owing plus 1% for each additional month, up to a maximum of 12 months.

No, inheritance and gifts are not taxed in Canada, but income earned from them (e.g., interest or investment income) is taxable.

Yes, if you use your vehicle for business or employment purposes, you can deduct related expenses, such as gas, maintenance, and insurance, based on the percentage of business use.

Rental income must be reported on Form T776. You can also deduct expenses like property taxes, mortgage interest, repairs, and maintenance.

An NOA is a statement from the Canada Revenue Agency (CRA) that summarizes the results of your tax return and indicates any refunds, balances owed, or carryforward amounts.

The CRA recommends keeping your tax records for at least six years in case of audit or review.