Yes! File a tax return even if you have no income or taxes owing.
Even if you didn’t make much, filing a tax return reports earned income, which increases your future RRSP contribution room. You may not have made much this year, but you might be eligible for the Canada Workers Benefit (CWB) (formerly the Working Income Tax Benefit (WITB) If you earned more than $3,000, you could get a credit refunded to you under this benefit program.
If you attended school and have eligible tuition fees, you must file a tax return in order to claim the credits, even if you are not using them. You might not need to use the credits this year, but in order to carry forward or transfer them, they must be reported on your current year tax return.
Which TurboTax Is Best for You?
You have a simple return, so why not try filing for free with TurboTax Online Free, a no-charge edition of our software? Or, you can start your return using Free, and if you feel the need for additional assistance, you can upgrade to any of our paid editions or even get Live help from an expert. But don’t worry, while using the online version of the software when you choose to upgrade, your information is instantly carried over so you can pick up right where you left off. Check out the full line up here.