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What information can I transfer to next year?

 

You can carry forward donations, RRSP contributions, education amounts, and many other amounts to a future tax year.If you have expenses or credits that you can't use in the current tax year, you may be able to carry them forward to future years to help reduce your income and balance owing.If you used TurboTax to complete your return last year and you had amounts to carry forward, the amounts are automatically transferred to your current year return.These are some of the common amounts you can carry forward:

  • Charitable donations
  • RRSP contributions
  • Tuition and education amounts
  • Student loan interest
  • Moving expenses
  • Employment expenses
  • Capital Cost Allowance (CCA) closing balance
  • Business-use-of-home expenses
  • Loss Carryback Request
  • Losses
  • Alternative Minimum Tax
  • Cost of acquiring labour-sponsored shares (LSVCC)
  • Home Buyers' Plan repayment (HBP)
  • Lifelong Learning Plan repayment (LLP)

CRA does not allow the following amounts to be carried forward:

  • Federal non-refundable tax credits
  • Unclaimed medical expenses (unless they fall within the 12-month claim period that ends in the tax year. In this case, do not enter them on this year's return. Instead, save them and enter them on next year's return)
  • Federal or provincial tuition amounts transferred from a child or a spouse or common-law partner. However, the child can carry forward these amounts and claim them in a future year.

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