The Tax Blog for Smart Canadians

Tips and tricks for Canadian tax filers at every stage of life from UFile's tax expert Gerry Vittoratos



Going Green: Save the Planet While Saving Cash

by UFile Team Équipe ImpôtExpert | Apr 13, 2017   Comments:

UFile blog - Going Green: Save the Planet While Saving Cash

When it comes to making eco-friendly choices, Canadians have made significant strides. More Canadians use LED light bulbs, e-billing, and water-efficient systems than ever, indicating that Canadians care about the Earth.

Making eco-friendly choices isn’t only about benefitting the planet; it can benefit your wallet, too.

File Your Taxes Online

Paper usage is a major source of waste in Canada. In 2013, the federal government alone reported using nearly 7,000 tons of paper to feed photocopiers, printers, and fax machines annually. However, the government has committed to reducing this number by 20%, working toward a better, greener Canada.

While you may not use a significant amount of paper every day, filing multiple paper-based tax forms can add up quickly. To do your part to reduce paper waste, consider filing your 2016 tax return online using NETFILE, which has the added benefit of getting your refund back in as few as 8 days.

Not sure where to begin? Using UFile is a great way to start. Our user-friendly software, with its refreshed interface, supports over 230 tax forms and is ideal for all types of tax returns, from self-employed entrepreneurs to full-time students.

Green Rebates

By making a few key household and lifestyle changes that better protect the environment, you may be eligible for CRA and provincial tax rebates.

Beginning with transportation, BC, Ontario, and Quebec offer rebates for those who buy electric cars. The rebates are applied at the point of sale; for BC it can go up to $5,000, and Quebec offers up to $8,000. Ontario residents can apply between $6,000 and $10,000 at the point of sale. Those who choose to take public transit are able to claim a portion of their costs for monthly passes, which can add up every year. But hurry up and buy your monthly passes as soon as possible because this tax credit will only be eligible until June 30, 2017!

You’re also eligible to receive rebates for making your home more eco-friendly. If you live in BC, you can get rebates for making energy-efficient choices during home renovations. On the other coast, Nova Scotians can save money on everyday products, like LED light bulbs, that make homes a little greener. In Quebec, you can claim a refundable credit on your provincial tax return for eco-friendly renovations.

Donate to Eco Initiatives

Donating to an environmentally friendly charity is a great way to better the world without breaking the bank. This is because your charitable donations, no matter how large, will likely count toward a charitable tax credit. You could potentially claim up to 40% of your donation, depending on your province, which will work to boost your tax returns.

If you’re a UFile user, you can donate without spending a dime. As an official sponsor of Earth Day Canada, we are donating $1 for every tax return filed using NETFILE with UFile on April 22!

Last-minute tax filing just got a lot greener.

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