There are many reasons why your tax refund can change from year to year. Common reasons include a change in income (if you made more or less money than last year), a change in income tax deducted from your paycheque (if your employer took more or less taxes off each paycheque), and/or a change in the tax credits and deductions you are eligible for.
If you can’t think of any tax situation change that would account for the difference, go back through the sections where you entered income or tax deducted, or claimed tax credits. Make sure that no slips or amounts have been entered twice and that the amounts have been entered in the correct boxes. You might have entered something twice, or used an incorrect slip or box.
If you used Wealthsimple Tax last year, you can also click “Download Summary” in the Summary section. This Excel file includes both this and last year’s numbers. Look for an amount that seems out of place or inflated.
Another suggestion is to compare your line-by-line summary in the Summary section. Expand the section by clicking on the arrow to the left of “Refund or Balance Owing” Check the areas where tax deducted was entered, to make sure your amounts are correct.
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