Why does the first year show a tax refund?
Where to find it: TIME MACHINE → Additional information; results → click the year
TIME MACHINE compares its calculated tax liability with the taxes and deductions already paid and any prior-year tax balance you entered. A refund can be reasonable when withholding exceeds the modelled liability, but it can also expose a mismatched input.
Review Taxes and deductions paid year-to-date: it should be the amount already paid, not the full year’s projected withholding. Check whether you entered a known zero or left the field blank for estimation. Review RRSP contributions and deductions, year-to-date investment income and the previous-year tax balance too.
The tax calculation needs current-year information.
Use the detailed year and Check-in reports to reconcile the periods.