Tax credits
Tax year
The calendar year (January 1 to December 31) covered by a specific income tax return.
Benefit amounts often use income from a prior tax year, filing late can delay payments.
Where you may see this
T1 return header, CRA My Account tax year selector.
Commonly confused with
Benefit year, which may run July to June for some programs.
The exact definition and rules can differ by program. Check the official rules for the benefit you are applying for.
Related terms
Tax credits
Benefit year
The 12-month period many federal benefits use, often running from July to June, based on prior-year tax information.
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Benefit year vs tax year
Your tax year is the calendar year on your return; many benefits use a July to June benefit year based on an earlier tax year.
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Adjusted family net income (AFNI)
The income amount the government uses to calculate many income-tested benefits. It starts with family net income and applies specific adjustments from your tax return.
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Canada Workers Benefit (CWB)
A refundable tax credit for low-income workers, with additional amounts for eligible families and people with disabilities.
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Disability amount (tax credit)
A non-refundable tax credit on your return when you are eligible for the Disability Tax Credit.
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