Amending Tax Credits for Carryforward Use

[hatef]

Hello everyone,

I have a somewhat complicated question about amending previously claimed tax credits.

If someone claimed a tax credit in a prior year (less than 10 years ago), received the tax refund based on that credit, and now wishes to amend the filed return to remove the credit and carry it forward for use in future years, is this possible?

Since I’ve already received a refund for those credits, removing them would mean I owe the CRA the amount I previously received. My questions are:

1. Would I need to pay a penalty for the time since I originally claimed the credits?
2. Or would I only owe the amount starting from the time the return is amended?

Additionally, could someone explain how this works specifically for:

• Tuition Fee Credits, and
• RRSP Contribution Credits?

Thank you very much for your help and insights!

[TurboTaxAniqua]

You can amend T1 returns for 2020, 2021, 2022 and 2023 using ReFILE if you have used TurboTax Software to file your

 return. 

You can amend your previous years return by submitting T1 Adjustment with CRA.

Change my return is a tool in My Account that allows you to make adjustment requests for the 10 previous calendar years. For example, a request made in 2024 must relate to tax year 2014 or later to be considered.
This tool makes it easy to change your return online by guiding you through common changes such as adding tax information slips and claiming the disability tax credit.
As well, it includes questions and messages when the CRA:
 

• needs more information
• detects errors
• needs supporting documents to finalize your request

For information on processing times, see Processing times.

In terms of penalty and refund adjustments we suggest contacting CRA directly to get more information on this.

Please refer to these links For information on Tuition Fees and RRSP Contributions.

Thanks for choosing TurboTax.