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Money can be a major source of stress. Tax season can be an even bigger stressor. According to a recent survey from TurboTax, the number one concern Canadians reported in anticipation of filing their taxes was owing money.
Understandable but, as it turns out, misguided. In fact, more people get money back in the form of a tax refund or owe nothing at all. For the 2021 tax year, 17.8 million Canadians (or 58% of tax filers) got a tax refund, averaging $2,093. Another 5.3 million Canadians (or 17%) didn’t owe money or get any money back.
So far for the 2023…
