Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
toricamp
New Member

My return is much lower but I did not claim CERB or anything like that. Is there a chance I filed wrong? Is someone able to review for me?

 
1 Reply
amoney1
Level 3

My return is much lower but I did not claim CERB or anything like that. Is there a chance I filed wrong? Is someone able to review for me?

 If your income changed or you’re no longer entitled to a tax credit or deduction, it can lead to a lower tax refund. Certain reasons for change in refund amount could include:

  • If your family situation recently changed, it can lead to a lower tax refund this year. 
  • If you’re a recent college or university graduate, you have the choice of transferring your tuition deduction to your parent, grandparent or spouse, or you can carry it forward until you have enough taxable income to use it up.
  • If you’ve been using up the remainder of your tuition deduction the last few years, you can be in for a rude awakening when the deduction runs out. Depending on your tax bracket, you could be used to tax refunds of $2,000, for instance. Without the tuition deduction, your tax refund could shrink to $500 or less. 
  • If you’ve recently retired from the workforce, your tax refund may be a lot lower than last year. Here’s why: When your paycheque is deposited into your bank account, your employer takes off payroll deductions. However, when you’re retired, some forms of income like your RRSP let you choose how much taxes are taken off. If you choose a lower amount, it can lead to a lower refund (or no refund at all). If you’re receiving a pension from your employer and no longer contributing to your RRSP, this can lead to a smaller tax refund.

For full information view the link below:

https://turbotax.intuit.ca/tips/why-is-my-refund-lower-than-last-year-326

For assistance with having someone review your return visit this link below to get information on how to receive help from our tax experts:

https://turbotax.intuit.ca/tax/filing/expert-help

 

Thank you for choosing TurboTax.

About Community

Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement.

3.49m
Members

2.62m
Discussions

v