How I Got a $12,000+ Refund: Step-by-Step Wealthsimple Tax Tutorial for Canadians

Get free $25 before you file your tax ▶️ Wealthsimple Account - https://www.wealthsimple.com/invite/D... I got a $12,089 tax refund this year. No tricks. No loopholes. No secret accountant strategy. In this video, I break down the exact math behind my refund and show you how it works step by step. If you earn income in Canada and invest in RRSP or FHSA, this video will help you understand: • How tax refunds actually work • Why a refund is NOT “free money” • How RRSP & FHSA reduce taxable income • How much tax I actually owed • Why no tax preparer can magically “increase” your refund • The simple formula: Tax Paid – Tax Owed = Refund I’ll walk you through: ✔ My income (T4 breakdown) ✔ RRSP & FHSA deductions ✔ EI & other slips ✔ Business expense deductions ✔ Federal + Provincial tax calculation ✔ Final tax owed vs tax already paid If you make between $70k–$120k and don’t understand this, you’re probably overpaying tax. This video is for: • Students filing on their own • Salaried employees • Side hustlers & small business owners • Anyone who wants to stop depending blindly on tax preparers The goal is simple: File your taxes yourself. Understand your numbers. Plan smarter. Because tax refunds aren’t magic. They’re math. 📌 Timestamps 00:00 – I got $12,089 back 01:17 – How refunds actually work 03:49 – Wealthsimple Tutorial 08:28 – Various tax deductions 10:31 – RRSP & FHSA impact 11:14 – Final tax calculation 14:28 – Big takeaway This is not financial advice. Just sharing my real numbers and process to help you understand yours. If this helps, consider subscribing to Money with Mayur for practical, real-world finance content in Canada. [how to file tax return in canada, wealthsimple tax filing] #TaxRefund #RRSP #FHSA #CanadaTaxes #PersonalFinanceCanada #moneywithmayur