Plain meaning
A tax amount, loss, credit, or deduction that can be applied in a later year if the rules permit.
Also called
carryforward amount
carry forward
carry-forward
Key points
- Carryforward affects how individuals report income, claim relief, receive benefits, or plan savings and retirement decisions.
- Eligibility and amounts often depend on annual tax filing, family status, age, income, residence, or documented expenses.
- The concept can affect both tax payable and income-tested benefits, so the after-tax result may differ from the headline amount.
- Readers should treat the glossary entry as orientation; the actual result depends on the current rules and personal facts.
Why it comes up
Carryforwards affect RRSP room, losses, tuition amounts, capital losses, and some business tax attributes. It can affect tax payable, benefit eligibility, after-tax income, or the timing of CRA-administered payments.