No matter which tax year you are reporting, you may have expenses
or deductions that you cannot use on that year’s tax return.
If, however, a portion of expenses such as tuition fees, charitable
donations or moving expenses exceeds the amount allowable for
use, this excess can be carried forward to a future year for use
in a subsequent tax return. And to ensure optimal calculation
accuracy, it is also important to keep track of capital loss and
gain amounts and RRSP balances. This will help you save tax dollars!
UFile carries forward this kind of information for you from year
to year. It also stores personal information such as your name,
address, etc. (and those of your family members) so you never
have to enter this information again.
Remember, your information is always safely stored on our secure
servers.
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