More than 50% of Canadians are unaware of new tax credits for 2006, according to a recent poll by Environics Research Group conducted on behalf of H&R Block Canada Inc.
Only the GST cut and the Universal Child Care Benefit had double digit awareness with 28% and 17%, respectively. Other tax credits, such as the Canada Employment Credit, Public Transit Credit and Textbook Tax Credit, had less than 5% awareness.
“The good news is that most Canadians will be able to claim new tax credits on their 2006 tax returns,” explains Cleo Hamel, a senior tax analyst with H&R Block Canada Inc. “But more than 80% of full-time employed Canadians polled said they were not going to claim the Canada Employment Credit even though every Canadian who was employed at some point during 2006 is entitled to it. It means more than 11 million Canadians will be missing an easy deduction.”
More than 50% of Canadians polled said there were either no new tax laws or did not know of any new tax laws.
More than 50% of Canadians do not expect the new tax law changes to result in an additional refund. Nearly 20% expected to receive about the same amount as last year.
Nearly one in three surveyed said they were going to consult with an advisor before doing their 2006 tax return to ensure they are taking advantage of the new tax credits.
The Canadian Public Opinion Poll was conducted from September 18 to October 12, 2006 and surveyed 2021 Canadians.
Canadians set to overpay this tax season
Poll shows taxpayers may not be claiming all possible credits
- By: IE Staff
- December 6, 2006 October 31, 2019
- 08:35