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Many people aren’t taking advantage of the tax credits and government benefits they’re eligible for. Jason Heath highlights four that are commonly missed.
There are plenty of saving accounts, tax benefits, and federal and provincial programs available to Canadians. Here’s a round-up of four opportunities that you may be missing out on.
The Canadian Dental Care Plan (CDCP) was first introduced for children, seniors, and adults eligible for the disability tax credit with a phased rollout. But in June 2025, it was expanded to all Canadian residents, subject to conditions. The CDCP is now available to anyone who does not have access to dental insurance.
A taxpayer and their spouse or common-law partner (if applicable) must have filed tax returns for the previous year to determine family income. If their adjusted family net income is less than $90,000, the federal government may partially cover a wide range of dental services. These services include everything from diagnostic and preventive services to orthodontic services.
Canadian Dental Care Plan enrollment is not automatic. You need to apply online using your My Service Canada Account (MSCA). You can access the CDCP section in your MSCA dashboard or call Service Canada at 1-833-537-4342. (Read more about how the CDCP works.)
If you perform qualifying renovations on an eligible home, you may be able to claim a federal non-refundable tax credit up to $20,000 for home accessibility expenses. This can yield a tax refund of up to $3,000 per year.
A qualifying individual is someone who is 65 or older at the end of the tax year, or who is eligible for the disability tax credit (DTC) at any time during the tax year.
You may also be able to claim the credit if you are an eligible individual making a claim for one of the above qualifying individuals. In other words, if you are related to someone 65 or older or who qualifies for the disability tax credit, you may be able to claim the home accessibility expenses.
The Canada Revenue Agency (CRA) identifies two primary conditions:
There is no specific list of qualifying renovations since this would be impossible to provide.
You cannot claim costs for tools or for your own labour, but expenses paid to a contractor or to purchase materials will generally qualify. (Learn more about claiming home accessibility expenses.)
First home savings accounts (FHSA) are relatively new, and they’re still not widely used. Introduced in 2023, these accounts help Canadians save for the purchase of a first home in a tax-effective way. They combine the best features of registered retirement savings plans (RRSPs) and tax-free savings accounts (TFSAs).
FHSA contributions are tax-deductible, like RRSP contributions. You can contribute up to $8,000 per year and up to $40,000 in total. There is no maximum withdrawal.
Withdrawals are tax-free when used for the purchase of an eligible home. The account can stay open for up to 15 years. If someone does not use the account for a home purchase, they can transfer the funds on a tax-deferred basis to their RRSP.
A parent can give a child money to contribute to their FHSA. There are no adverse tax or attribution issues. This can be a good strategy if a parent intends to help a child with a down payment anyway.
Learn more: How FHSAs work (and the best options in Canada)
Answer a few quick questions to get a personalized quote, whether you’re buying, renewing or refinancing.
The disability tax credit (DTC) is a non-refundable tax credit that provides access to other opportunities like savings accounts and government benefits. It is available to Canadians with a severe and prolonged physical or mental impairment.
The DTC is very underused. Only a quarter of the Canadians who are likely eligible for the tax credit have applied for it, according to the CRA’s disability advisory committee.
An applicant must have a marked restriction in one of these categories to qualify:
If a person has significant limitations in two categories when impairment does not meet the criteria in a single category for a marked restriction, they may still qualify for the DTC.
A medical practitioner must certify the impairment. Applications can be submitted online or by phone using a CRA digital form or by mail using a paper form.
If the application is approved, the disability tax credit can save over $2,000 per year, depending on a taxpayer’s province or territory of residence. You can also apply retroactively for up to 10 years of past tax refunds.
If a taxpayer’s income is low and they do not owe tax, they may be able to transfer the tax credit to a supporting family member to reduce their tax.
The DTC provides access to two important programs.
One of the problems with having so many different savings accounts and federal, provincial, and territorial benefits is that they can be difficult to navigate. But if you take the time, it can be lucrative and put more money into your pocket.
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