It's almost time to file tax returns. It's an opportunity to take the time to analyze what you can claim.

In Quebec, we are very fortunate to be able to count on various financial assistance programs to reduce our bill at the end of the year.

Home Buyers' Tax Credit

Provincial credit

Did you know that if you purchased a property in Quebec and were living there on December 31, you're eligible for the homebuyer's tax credit? By completing this form (TP-752.HA), you gain access to a maximum amount of $1,400, which can be shared as needed. Simply attach it to your income tax return.

Federal credit

In parallel, a second tax credit is available if you acquired a qualifying home under the Home Buyers' Tax Credit (HBTC) program.

The Home Buyers' Plan

The Home Buyers' Plan allows you to withdraw money from your RRSP without having to pay tax. In addition, negotiating a higher mortgage payment over a shorter amortization period is one of the winning ingredients to save money.

file tax returns

First home savings account (FHSA)

You can deduct your contributions that you made to your FHSA in your income tax and benefit return for the contribution year or a future year.

Note that you cannot deduct amounts you transfer from your RRSPs to your FHSAs

Visit the federal government website for more information.

Claiming teleworking expenses

Did you work from your personal residence in the past year? It's time to dig out your office supply receipts. Your place of residence also served as a workplace, which is why the government reimburses you for taxes on rent, office supplies, online training, and more.