# Tax Deductions and Credits Canadians Miss (2026) > The tax deductions and credits Canadians most often miss in 2026: RRSP, FHSA, childcare, moving, medical, donations, home buyers' amount and benefits. Source: https://trykosh.com/learn/tax-deductions-and-credits-canada Guide - Income tax # Tax deductions and credits Canadians most often miss Deductions lower your taxable income; credits lower your tax directly. Most people claim the obvious ones and leave the rest on the table. Here's a checklist for 2026, with the amounts. Updated October 31, 20264 min readBy the Kosh team On this page[Deduction or credit: what's the difference?](#difference)[Deductions worth checking](#deductions)[Credits people forget](#credits)[Benefits you only get by filing](#benefits)[Mistakes that cost money](#mistakes)[FAQs](#faq) ## Deduction or credit: what's the difference? A **deduction** comes off your income before tax is calculated, so it saves tax at your marginal rate. A **non-refundable credit** reduces tax at a fixed rate (federally 14%, the lowest bracket rate) and can only bring your tax down to zero. A **refundable credit or benefit** is paid even if you owe no tax, which is why it's worth filing even with low income. ## Deductions worth checking Deduction Who it's for Notes RRSP contributions Anyone with RRSP room 18% of last year's earned income up to $33,810 for 2026, plus unused room. Contributions in the first 60 days of the year can count for the year before. FHSA contributions First-time home buyers Up to $8,000 a year, $40,000 lifetime, deductible like an RRSP. Child care expenses Parents paying daycare, camps, before- and after-school care Usually claimed by the lower-income spouse; keep receipts. Moving expenses People who moved at least 40 km closer to a new job or school Deducted against income earned at the new location. Union and professional dues Employees and professionals Often on your T4; check for dues you paid yourself. Employment expenses (home office, vehicle) Employees required to pay them Needs Form T2200 from your employer. The temporary flat-rate home office method ended after 2022. Enhanced CPP and CPP2 contributions Everyone who pays CPP Tax software deducts them from your T4 amounts. Carrying charges and interest Investors who borrow to invest outside registered accounts Interest on money borrowed to earn investment income. ## Credits people forget - **Medical expenses**: eligible costs above the lesser of 3% of net income or $2,890 (2026). Dental, prescriptions, glasses and many other costs count. Claim the whole family's on one return, usually the lower earner's, for any 12-month period ending in the tax year. - **Donations**: a federal credit at the lowest rate on the first $200 and 29% above that (33% on the part from income in the top bracket). Spouses can pool receipts, and donations can be carried forward up to five years. - **Home buyers' amount**: first-time buyers can claim up to $10,000, a federal credit worth $1,400. - **Tuition**: T2202 amounts can be used, carried forward, or partly transferred to a parent, grandparent or spouse. - **Disability amount** ($10,341 in 2026) with an approved Form T2201, transferable to a supporting family member. - **Canada caregiver amount** for a dependant with an impairment ($2,740 or up to $8,773, depending on the dependant). - **Age amount**: $9,208 for people 65 and over, reduced above $46,432 of net income. - **Pension income amount and pension splitting** for retirees with eligible pension income. - **Interest paid on government student loans.** ## Benefits you only get by filing - **Canada Groceries and Essentials Benefit** (formerly the GST/HST credit): for July 2026 to June 2027, up to $679 for a single person, $890 for a couple and $234 per child under 19, based on your 2025 return. - **Canada child benefit**: up to $8,157 a year per child under 6 and $6,883 per child aged 6 to 17 for July 2026 to June 2027, reduced as family income rises. - **Canada Workers Benefit**: up to $1,665 for single people and $2,869 for families in 2026, for lower-income workers. - **Provincial credits and benefits** that are paid through the same return. ## Mistakes that cost money - Claiming medical expenses on the higher earner's return, where the 3% threshold is bigger. - Not pooling donations on one spouse's return to get past the first $200 sooner. - Forgetting RRSP contributions made in January and February. - Leaving capital losses unclaimed; they offset gains in other years. - Not filing at all in a low-income year and missing benefits. [Free tool**Income tax calculator**Work out your 2026 federal and provincial income tax, CPP and EI, and what you keep, in any province or territory. Add self-employment income, capital gains and RRSP contributions to see how each one changes the bill.](/tools/income-tax-calculator)[Free tool**RRSP tax refund calculator**Find out how much tax an RRSP contribution saves you this year, and what it really costs once the refund comes back.](/tools/rrsp-calculator) **Where Kosh fits** Kosh reads your bank and card statements and spots spending that looks claimable, such as daycare, pharmacy, dental, donations and moving costs, so you can gather the receipts before filing season. It doesn't file, but it helps make sure nothing is missing when you do. ## Frequently asked questions What tax deductions can I claim in Canada? Common ones are RRSP and FHSA contributions, child care expenses, moving expenses, union and professional dues, employment expenses with a T2200, and carrying charges on money borrowed to invest. What is the medical expense threshold for 2026? You can claim eligible medical expenses above the lesser of 3% of your net income or $2,890 for 2026. How much is the home buyers' amount? First-time home buyers can claim up to $10,000, a non-refundable federal credit worth up to $1,400 at the 2026 lowest federal rate. Can I still claim the $2 a day home office deduction? No. The temporary flat-rate method ended after the 2022 tax year. Employees now need a signed Form T2200 from their employer and must use the detailed method. Is it better to claim donations on one spouse's return? Usually yes. Pooling donations on one return means the first $200, which earns the lower credit rate, is counted only once, so more of the total earns the higher rate. ## Sources - [CRA: Adjustment of personal income tax and benefit amounts (2026)](https://www.canada.ca/en/revenue-agency/services/tax/individuals/frequently-asked-questions-individuals/adjustment-personal-income-tax-benefit-amounts.html) - [CRA: Lines 33099 and 33199, Eligible medical expenses](https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/lines-33099-33199-eligible-medical-expenses-you-claim-on-your-tax-return.html) - [CRA: Line 34900, Donations and gifts](https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-34900-donations-gifts.html) - [CRA: Line 31270, Home buyers' amount](https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-31270-home-buyers-amount.html) - [CRA: Home office expenses for employees](https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-22900-other-employment-expenses/work-space-home-expenses.html) - [CRA: Canada Groceries and Essentials Benefit](https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-groceries-essentials-benefit.html) - [CRA: How we calculate your Canada child benefit](https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit-overview/canada-child-benefit-we-calculate-your-ccb.html) Written by the Kosh team and checked against the rules in force on October 31, 2026. This guide is general information, not tax, legal or investment advice. Kosh is an educational financial planning tool by Primedepth Labs. It is not registered with any Canadian securities regulator as an adviser or dealer, does not recommend specific securities, and does not hold your money or execute trades. Tax figures are estimates; confirm with the CRA or a qualified professional before acting. Investing carries risk. ## Upload your statement and Kosh does this for you. Kosh reads your bank, card and investment statements, estimates your federal and provincial tax and turns guides like this one into your own numbers and next steps. [Start free](/signup?via=learn-tax-deductions-and-credits-canada)