Maximizing Tax Credits & Deductions
Reduce Your Taxes by Claiming Every Eligible Credit & Deduction
The Canada Revenue Agency (CRA) offers a variety of tax credits and deductions that can significantly lower your taxable income and increase your refund. However, many Canadians miss out on these benefits simply because they don’t know they exist or aren’t sure how to claim them properly.
At Westview Accounting & Tax Services Inc., we ensure you maximize your tax savings by identifying all available deductions and credits you qualify for. Whether you’re an employee, self-employed, a retiree, or a student, we help you reduce your tax bill while staying fully compliant with CRA regulations.
Understanding the Difference Between
Tax Credits & Deductions
Tax Deductions
Tax deductions are specific expenses that you can subtract from your total income before calculating how much tax you owe. They reduce your taxable income, which can lower your overall tax bill.
Tax Credits
Directly reduce the amount of tax payable. Some credits are refundable (meaning you can get money back), while others are non-refundable (they only reduce taxes owed).
Tip: By properly utilizing both, you can significantly reduce the taxes you owe or increase your tax refund.
Common Tax Credits & Deductions You May Be Missing
Employment & Work-Related Deductions
Work-from-Home Expenses (T777S)
Employees working remotely may claim home office expenses.
Union & Professional Fees (Line 21200)
Membership dues for trade unions or professional organizations are deductible.
Employment Expenses for Commissioned Employees (T777)
Sales professionals may claim car expenses, home office costs, and promotional materials.
Self-Employed & Business Deductions
Business Expenses (T2125)
Deduct business-related expenses such as advertising, office rent, and utilities.
Vehicle & Travel Expenses
Self-employed individuals can claim gas, insurance, maintenance, and business-related travel.
GST/HST Input Tax Credits (ITCs)
If registered for GST/HST, self-employed individuals can claim back sales tax paid on business expenses.
Education & Tuition Tax Credits
Tuition & Education Credits (T2202)
Students can claim tuition fees and carry forward unused credits.
Student Loan Interest Deduction (Line 31900)
Interest paid on government student loans is tax-deductible.
Moving Expenses for Students (T1-M)
If moving for post-secondary education or work, students may claim moving costs.
Family & Dependent Tax Credits
Canada Child Benefit (CCB – RC66)
Tax-free payments for parents with children under 18.
Child Care Expenses (T778)
Deduct daycare, after-school programs, and babysitting costs.
Disability Tax Credit (T2201)
Provides tax relief for individuals with disabilities and their caregivers.
Canada Caregiver Credit (Line 30425 & 30450)
Tax relief for those caring for a dependent with a disability or medical condition.
Family & Dependent Tax Credits
Medical Expenses Deduction (RC4065)
Claim medical, dental, vision care, prescription drug, and therapy costs.
Attendant Care & Nursing Home Fees (Line 33099 & 33199)
Claim expenses for in-home caregivers or assisted living facilities.
Home Accessibility Tax Credit (Line 31285)
Seniors and disabled individuals can claim home renovations to improve accessibility.
Retirement & Savings Tax Deductions
RRSP Contributions (T1 Schedule 7, RC71)
Contributions to Registered Retirement Savings Plans (RRSPs) reduce taxable income.
TFSA (Tax-Free Savings Account) Optimization
Though contributions are not deductible, tax-free withdrawals help long-term financial planning.
Pension Income Splitting (T1032)
Retired couples may reduce tax burdens by splitting pension income.
Investment & Capital Gains Tax Strategies
Capital Gains Exemptions (T5008)
Deferring gains or using losses strategically can reduce taxes owed.
Rental Property Expense Deduction (T776)
Landlords can deduct mortgage interest, property taxes, repairs, and utilities.
Foreign Income & Tax Credits (T1135)
Canadians with foreign investments or rental properties must report assets but may claim tax credits to prevent double taxation.
Homeowner & Real Estate Tax Benefits
First-Time Home Buyer Tax Credit (Line 31270)
Provides up to $1,500 in tax savings for new homeowners.
Home Buyers’ Plan (T1036)
Allows first-time buyers to withdraw up to $35,000 tax-free from an RRSP.
GST/HST New Housing Rebate (RC4028)
A rebate for those purchasing new homes or doing major renovations.
How Westview Helps You Maximize
Tax Credits & Deductions
How Westview Helps You Maximize Tax Credits & Deductions
Comprehensive Tax Review & Optimization
We analyze your financial situation to identify every deduction and tax credit you qualify for.
Accurate Tax Filing to Ensure Maximum Refunds
We ensure your T1 return is completed properly so you don’t miss out on tax savings.
Strategic Tax Planning to Reduce Taxes Year-Round
We provide tax-saving strategies for next year to help you stay ahead.
Investment & Business Tax Strategies
We help business owners, landlords, and investors optimize deductions and credits.
CRA Compliance & Audit Protection
We make sure your claims are accurate and well-documented to
prevent CRA issues.
We make sure your claims are accurate and well-documented to prevent CRA issues.
Why Work with Westview Accounting & Tax Services Inc.?
At Westview Accounting & Tax Services Inc., we combine deep expertise with personalized service. Our team takes the time to understand your unique financial situation and offers tailored advice to ensure your return is accurate, compliant, and optimized for maximum refunds. We don’t just file your taxes—we help you plan smarter for the future. Whether you’re a newcomer, business owner, or retiree, you can trust us for clear guidance, strategic savings, and peace of mind all year long.
Maximize Refunds & Minimize Taxes
We ensure you claim every dollar you’re entitled to.
Personalized Tax Strategies
We tailor tax solutions to your specific needs.
No Missed Credits or Deductions
We stay up to date with CRA tax rules to maximize your tax savings.
Full-Service Support
Need help with RRSPs, rental income, investments, or medical tax credits? We offer comprehensive tax solutions.
Reduce Your Taxes & Increase Your
Refund with Expert Tax Planning!
Many Canadians pay more in taxes than they need to simply because they don’t claim all available deductions and credits. Let Westview Accounting & Tax Services Inc. help you maximize your tax savings, reduce your tax burden, and get the refund you deserve in North Vancouver, BC.
Contact Us Today! Get expert tax filing & deduction optimization services!
Westview Accounting provides trusted accounting, tax, and bookkeeping services across North Vancouver and Surrey. We help individuals and businesses stay compliant, informed, and financially confident.