Still Waiting on Your Tax Refund?

Did you check your bank account yesterday?
Because on October 3rd, the CRA dropped GST/HST credits into millions of accounts and if yours is still sitting at $0, we need to talk.

But here’s the real question: Did you even file your 2024 taxes yet?

I get it. You meant to. Then life happened — you moved, switched jobs, or just plain forgot. But while you’ve been putting it off, there could be thousands of dollars with your name on it just sitting there.

Money that could cover next month’s rent.
Money that could pay for that last-minute ticket home.
Money that could finally let you support your family without triple-checking your balance first.

Here’s the good news: it’s not too late.
And here’s the better news: I’m about to walk you through how to claim what’s yours, avoid the mistakes that delay refunds for months, and even boost your refund next time.

And if you did file but are still refreshing your account wondering where your money is — don’t worry, we’re breaking that down too.

Did You Get Your GST/HST Credit?

First things first: if you were expecting a GST/HST credit payment, it should have hit your account on October 3rd (yesterday or the day before, depending on when you're reading this). This quarterly payment is separate from your annual tax refund, but it's still money from the government based on your tax return.

If you didn't get it and think you should have, it might be because you haven't filed your 2024 taxes yet. Yeah, we need to talk about that.

You Haven't Filed Your 2024 Taxes Yet?

Life gets busy. But here's the thing—if you haven't filed your 2024 tax return (the one that was due back in April/June 2025), you're leaving money on the table.

And we're not talking about small change. We're talking about potentially thousands of dollars in refunds, plus missing out on important benefits like:

GST/HST credits
Canada Child Benefit (if you have kids)
Climate Action Incentive payments
Provincial credits and benefits

The good news? It's not too late. You can still file, and while you might face some penalties if you owe money, if the government owes YOU a refund, there's no penalty for filing late. You just won't get your money until you file.

Why Are Tax Refunds Taking So Long?

If you DID file but you're still waiting for your refund, here's what might be going on:

Normal Processing Times:

Electronic filing (NETFILE): 2 weeks for your refund
Paper filing: Up to 8 weeks
Living outside Canada: Up to 16 weeks

Bonus: If the CRA takes longer than a month to deliver your refund, they'll actually pay you compound daily interest (between 1-5%). Not bad, right? Though obviously, you'd rather just have your money sooner.

Reasons for Delays:

The CRA is reviewing your return (they do random checks)
You claimed something that needs verification
There's a mistake or missing information
You have outstanding balances from previous years
You filed by mail during busy season

What You Can Do: Check your refund status online through CRA My Account. If it's been longer than the normal processing time and you haven't heard anything, contact them at CRA. Yes, the wait times can be brutal, but it's worth it if your money is held up.

Tax Season 2026 is Coming

I know, we just got through one tax season. But here's why you should start thinking about it now:

The 2026 Tax Season (for 2025 income) will open in February 2026, which is literally four months away. And trust me, preparing now makes everything so much easier.

Start Doing This Now:

Keep your receipts organized - Don't wait until March to hunt for that donation receipt.
Track your RRSP contributions - These reduce your taxable income.
If you're self-employed, set money aside for taxes NOW.
Update your info with CRA - New address? New bank account? Update it so your refund doesn't get lost.

The Smart Money Moves

Here's something many people in our community don't realize: that tax refund isn't just sitting money. It's an opportunity to get strategic with your finances.

Smart Ways to Use Your Refund:

Send support home through Paper - Whether it's school fees season or helping with family emergencies, your refund can go further when you use a service with good exchange rates
Build your emergency fund - Canada is expensive, and having 3-6 months of expenses saved can be a lifesaver
Pay down high-interest debt - Credit card interest rates are brutal in Canada
Invest in yourself - Take that course, get that certification, level up your career
RRSP contributions - This is a double win: you reduce next year's taxes AND save for retirement

The "I Forgot to File" Recovery Plan

If you're reading this and realizing you forgot to file for 2024 (or even earlier years), don't panic. Here's your action plan:

Gather your documents - T4s, T5s, receipts, all that stuff
File electronically if possible - It's faster and you can track everything
If you can't find your tax slips, log into CRA My Account - they're usually there
Consider using free tax software - Wealthsimple Tax (formerly SimpleTax), StudioTax, or TurboTax Free
If it's too overwhelming, look for free tax clinics in your community or hire a professional

How to Increase Your Tax Refund

Okay, here's the thing nobody tells you: you can actually control how much you get back. Let me break down the two main ways to boost that refund.

Strategy 1: Lower Your Taxable Income Through Deductions

Think of deductions as the government's way of saying "we want to encourage this behaviour, so we'll let you subtract these expenses from your income." The less taxable income you have, the less tax you pay, which means more money back to you.

Common deductions you should know about:

RRSP contributions - This is huge. Every dollar you put into your RRSP reduces your taxable income
Child care expenses - If you're paying for daycare so you can work, claim it
Union or professional dues - Those membership fees add up
Moving expenses - If you relocated for work or school (at least 40km closer), you can claim this
Interest on investment loans - If you borrowed money to invest, that interest is deductible

Strategy 2: Maximize Your Tax Credits

Credits work differently from deductions—they directly reduce the amount of tax you owe. There are two types:

Non-refundable tax credits (can reduce your tax to zero, but not below):

Basic personal exemption (everyone gets this)
Medical expenses (if they exceed 3% of your income)
Tuition fees for post-secondary education
CPP and EI contributions (automatically on your T4)
Disability credits
Transit passes and fitness expenses
Charitable donations (you get 15% on the first $200, then 29% on amounts above that)

Refundable tax credits (the CRA will actually pay you even if you owe no tax):

Canada Workers Benefit
Canada Training Credit
Medical Expense Supplement
Climate Action Incentive (in applicable provinces)
GST/HST credit

Here's the math: Add up all your non-refundable credits and multiply by 15% (the federal rate). That's roughly how much comes off your tax bill.

If you want an even bigger refund next year, you can actually ask your employer to withhold MORE tax by filling out Form TD1. Yeah, it sounds backwards, but if you have trouble saving money, this forces you to save it, and you get it all back as a lump sum refund. It's like a forced savings plan!

How to Calculate Your Tax Refund

The easiest way to calculate your tax refund is to use a free tax software or an online tax calculator that does all the math for you. But if you want to understand the formula, here it is:

Step 1: Total income - total deductions = taxable income

Step 2: Taxable income × your tax rate = tax on taxable income

Step 3: Tax on taxable income - (non-refundable credits × 0.15) = tax payable Step 4: Tax payable - tax already paid + refundable credits = your refund

Sounds complicated? That's why we have software! But understanding the logic helps you see where you can make changes to increase your refund.

Common Mistakes That Delay Refunds

Let's help you avoid these:

Math errors - Use software, it does the calculations for you
Wrong SIN or banking info - Double-check everything
Missing signatures - If filing by paper, don't forget to sign
Not reporting all income - The CRA already knows about your T4s and T5s; not reporting them raises red flags
Claiming things you can't prove - Keep those receipts for six years
Not setting up direct deposit - Seriously, sign up for CRA My Account and add your banking info

Whether you're waiting on a refund, need to file, or planning ahead, staying on top of your taxes in Canada is crucial. It's not just about avoiding penalties—it's about making sure you get every dollar you're entitled to.

And once that money hits your account? Make it work for you. Whether that's supporting family back home (Paper's got you covered for that), building your life here in Canada, or both—your refund is a tool, not just a windfall.

Quick Action Items:

Check if you got your GST/HST credit on October 3rd
If you haven't filed 2024 taxes, do it THIS WEEK
If you're waiting on a refund, check your status on CRA My Account
Start organizing documents for 2026 tax season NOW

Remember, money management isn't just about earning—it's about keeping track of what's yours and making smart moves with it. We're here to help you do both, whether that's understanding Canadian finances or making sure your money gets home safely to your family.

Got questions about your refund or need help sending money home? Drop a comment or hit us up!

Need to send money back home? Download the Paper app for seamless, affordable transfers from Canada to Nigeria. Because your family shouldn't have to wait.