What personal (not corporate) tax examples like the quote underneath appertain to Ontarians? Please focus on examples that can appertain to as many Ontarians as possible, thus don't focus on high income tax brackets.
But there are times when a tax deduction could put you in a lower bracket and also allow you to get a larger tax credit for example. That would be especially worthwhile if your money went to something of value, like an IRA. Or maybe you were going to give $500 to charity, but then you do the math and realize that if you give $1000 instead, you'll get an extra $250 back on your taxes. That extra $500 donation only really costs you $250, so it's a tax write off, but it didn't really save you anything. That's an extreme example, but with a bracket, a credit or two and an itemized deduction, you might find a sweet spot.
Please disregard examples beneath in which the purchase is necessary, like laser eye surgery.
Health expenses are deductible at a certain point. In a year when you've already had significant expenses, you may realize that you'll be able to deduct a portion on your next tax return. If your marginal tax rate was 15%, you could opt to get that laser eye surgery you've been wanting this year. It would cost you at least 15% less than if you waited until the next year. So it's a write-off, but you still have to pay the other 85%.