Tip #1 - Getting and Staying Organized

Keep detailed proof of any expenses you claim. This proof can consist of many things, but the original bill is best.

If you use a computer to do all your record keeping or if you have valuable papers, it makes sense to store a recent backup of your computer files and copies of those valuable papers in a different location.

Some types of receipts don't have to be attached to your tax return. For example, if you have claims for union dues, tuition fees, or child care expenses, the receipts needn't be attached to your return when it is filed.

Before you can NETFILE your return to the CCRA, you must first prepare your return using certified tax preparation software.

Tip #2 - Tax Deductions and Credits

You'll enjoy greater tax savings if you claim all your charitable donations on one spouse's tax return, rather than having each spouse claim some.

By claiming medical expenses on the return of the lower-income spouse, you'll increase your available credit.

If you purchase Canada Savings Bonds using your payroll purchase plan, the interest charged by your employer to participate is deductible at line 122 as a carrying charge.

Did you know that you might be entitled to a quarterly cheque from the government for the Goods and Services Tax (GST) or the Harmonized Sales Tax (HST)? Anyone over the age of 19 is eligible for the GST credit, but you must file a tax return in order to receive it — even if you're not taxable!

If you are responsible for the care of a child who is under 18, you might be eligible to claim the Canada Child Tax Benefit (CCTB) for that child.

Always reduce your taxable income to equal your total tax credits for the year. If you reduce your taxable income to zero, you won't owe any taxes, but you might be wasting some deductions.

Tip #3 - Non-Refundable Tax Credits

You may claim a spousal amount of $6,482 if you were married or had a common-law spouse at any time in the year, if you supported that spouse at any time while you were married.

You can claim the amount of interest you, or a person related to you, paid on loans made to you for post-secondary education.

If your spouse does not need to use all of his or her tuition and education amounts, you can claim the unused part on line 326.

Tip #4 - Taking a Look at RRSPs and Taxes

RRSP contributions are tax deductible and the funds grow tax-free. No tax is payable until a withdrawal is made from the RRSP.

When you make your RRSP contributions, you have the option of putting the contributions in your own RRSP, in a spousal RRSP, or in a combination thereof.

One method of ensuring that you get money into your RRSP is to set up a pre-authorized contribution (PAC) plan. A PAC plan authorizes a bank or investment company to withdraw funds from your account and place them in your RRSP.

Tip #5 - Strategies for Retirement

If you contribute to your RRSP and then withdraw the funds within 90 days for the Home Buyers' Plan, you won't be able to claim a deduction for that contribution. Always allow your contributions to sit for 91 days or more before making a withdrawal under the HBP.

Never use an RRSP deduction to reduce your income below the amount of your non-refundable tax credits.

If you think your taxable income is going to increase significantly from one year to the next, you should defer your RRSP deduction to the next year. This way, your marginal rate is higher and you save more tax.

Tip #6 - Money Matters: Tips for Employees and Investors

If you own one rental property in addition to your principal residence, you can deduct motor vehicle or travel expenses incurred in conducting repairs and maintenance or in transporting tools and material to the rental property, provided the property is located in your general area of residence.