Tax Season In Canada Is A Windfall For Many — Here Are The Average Returns And Benefits
You could regain quite a bit of your hard-earned cash in Quebec!
The Canada Revenue Agency's sign outside its headquarters in Ottawa.
Tax season in Canada is happening, it's really happening, nobody panic! But also don't ignore it because there are plenty of benefits to be reaped from the bureaucratic exercise that is filing provincial and federal taxes.
Most Quebecers — 9 out of 10, to be precise — have filed their 2021 returns online already, and you'll soon be able to file for 2022 as well, as of February 20, 2023.
Why should you do it, though? Well, besides the fact that it's legally required of you, you can also earn plenty in returns and benefit payments, according to the Canada Revenue Agency (CRA).
Canadians who received a tax refund last year gained an average of $2,092, which is definitely more than enough to justify the work of getting your papers in order. You're quite likely to be eligible for federal benefit and credit payments, too.
Last year, the CRA found, eligible Quebecers got back an average of $6,240 in Canada child benefit (CCB) payments and $440 in goods and services tax/harmonized sales tax (GST/HST) credit payments.
But you only get those sweet, sweet coins if you file your taxes, even if you didn't earn anything in 2022, or if your earnings were tax-exempt.
You'll receive your benefits not all at once but on specific dates, which the CRA lists here.
Other benefits available to eligible Quebecers include the province's solidarity tax credit for low-income folks, workers' benefits through federal taxes, housing benefits and even a crisp $500 benefit just for working from home.
This article's cover image was used for illustrative purposes only.